Scottish oil cash to tail off by 2035 – Sir Ian Wood

Oil magnate Sir Ian Wood dipped a toe in the debate on Scottish independence yesterday by suggesting oil reserves off the Scotch coast may tail off by 2035. He told the BBC: “Oil and gas will deplete. Scotland cannot count on significant oil and gas revenues to Treasury, I’m going to guess probably after 2035, […]

Stop squabbling ex-oil boss tells oil and gas lawyers

Oil and gas firms and especially their lawyers were told to quit squabbling over deals and work together amicably by Sir Ian Wood yesterday. In many ways the former chairman of engineering firm Wood Group is the Alex Ferguson of the oil world – although he seems set on leaving a far better legacy behind […]

UK can squeeze 3-4 billion barrels from North Sea finds Wood review

Government and industry must work closer together on the UK Continental Shelf (UKCS) if it wants to squeeze out the maximum amount of oil and gas that can be recovered from it. That’s according to an interim report conducted by Sir Ian Wood on behalf of DECC, which claims an extra 3-4 billion barrels of […]

UK hopes to squeeze out benefits with oil and gas review

In an attempt to squeeze out as much economic benefit as possible from the region’s oil and gas, today the Government set up a review of the UK Continental Shelf (UKCS). It’s the first time for more than 20 years the Government has commissioned such a review. Led by Scottish businessman Sir Ian Wood – reportedly […]