A series of investments by oil and gas companies will create thousands of jobs, including the opening of new oil fields in the North Sea, reports the Belfast Telegraph.
There will also be new gas fields, and these new fields should provide 5% of British energy by 2015. The project, called Cygnus, is being led by Centrica and is expected to create 4,000 jobs. BP are also to invest around £60 million in order to improve academic posts across the country.
Vince Cable, the business secretary, said that the “oil and gas industry’s immense contribution to our skills base, industrial capacity and strength as an exporter are pivotal” to the economy, before adding that “collaboration between business and higher education institutions is boosting the status of the UK as a driver of innovation.”
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