Scotland unveils new oil and gas strategy

A new plan for the Scottish oil and gas industry’s long term growth has been unveiled. The Industry Leadership Group’s (ILG) refreshed strategy calls for a transformed supply chain to […]

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By Priyanka Shrestha

A new plan for the Scottish oil and gas industry’s long term growth has been unveiled.

The Industry Leadership Group’s (ILG) refreshed strategy calls for a transformed supply chain to drive efficiency, innovation and internationalisation.

It is co-chaired by Scottish Business and Energy Minister Fergus Ewing and oil and gas specialist Melfort Campbell.

The strategy has been developed in response to the challenging operating environment caused by the oil price slump, a changing commercial and regulatory environment and a maturing North Sea basin with international competition.

It aims to maximise current opportunities and further develop the oil and gas industry supply chain in Scotland and gain worldwide recognition as having ‘centres of excellence’ in areas such as subsea, offshore and decommissioning.

It follows Prime Minister David Cameron’s £20 million pledge for the sector and Scottish First Minister Nicola Sturgeon’s £12.5 million investment for oil and gas innovation.

Mr Ewing said: “While it is clear that the oil and gas industry faces severe challenges from a low global oil price, there are still opportunities that Scotland can capture from new discoveries and through our world-class supply chain.

“This strategy, which we committed to refresh in our most recent Programme for Government, builds on these themes, supporting the industry to maintain it global position and to drive forward the changes required to increase growth in international and supply chain sales and production efficiency.”