BBC on the North Sea “needing more tax incentives” #NSO12
According to a recent article by the BBC, the North Sea oil and gas industry needs greater tax incentives to help maintain and increase production over the next 30 years.
A report by Professor Alex Kemp and Linda Stephen of the University of Aberdeen looks at oil price fluctuations and concludes that “there is likely to be a substantial decrease in new field investment over the next few years.”
The report – the Short and Long Term Prospects for Activity in the UK Continental Shelf – adds that there is clear scope for investments in marginal fields if tax relief is introduced.
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Oil & Gas Outlook North Sea attracts over 200 investors and C-level executives from Junior, Independent, National and International oil companies to discuss the opportunities remaining, and strategies for success in the North Sea.