The UK is being urged to encourage oil and gas drilling in the North Sea as exploration dropped by 28% last year. The call from Deloitte’s Petroleum Services Group (PSG) comes as its report found only 47 exploration and appraisal wells were drilled on the UK Continental Shelf (UKCS) in 2013 compared to 65 the […]

Drilling in the UK’s part of the North Sea was boosted by new tax allowances and high oil prices last year. UK Continental Shelf drilling went up by a third, according to Deloitte’s petroleum services group (PSG) which says this shows “renewed vigour” in the region. There were 65 new wells drilled over 2012, a […]

The Government today approved a £1.6billion oil project in the North Sea which was made possible by the Chancellor’s latest oil and gas tax allowance. Energy Minister John Hayes said the Talisman project showed a “new wave” in interest in the North Sea oil fields. It will create a further 100 million barrels of oil […]