Member Article

Don't Underestimate Economic Role of Oil & Gas

Bryan Bunn, Managing Director at the Nortech Group, a successful professional engineering design and project management company based at Wynyard, commented: “The crucial importance of the North Sea oil and gas industry cannot be over-estimated.

“While the figures are worse than expected, there are some signs that the UK is doing well, and the sector we operate in is proof positive that as a nation we do have real reason to be optimistic.”

He added: “The issuing of UK licenses will certainly attract great interest from smaller oil and gas companies even if the big boys concentrate on more profitable projects for the moment. For potential North Sea investors, all the signs are that the smart money is on further significant oil and gas discoveries in the North Sea.

“The UK does have one problem, however. Should it focus on developing its own potentially world class shale gas reserves, its deep-water discoveries in the South Atlantic, or simply stick with its ‘just won’t quit’ North Sea?”

This was posted in Bdaily's Members' News section by Recognition PR Business Team .