Energy Industry Receives Jobs and Investment Boost

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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BP Struggle to Fill Roles

Oil and gas company BP are struggling to find skilled engineers to expand their North Sea operations, reports the BBC.

The growth of the North Sea oil and gas fields, expected to create hundreds of jobs, seems to have stagnated as Trevor Garlick, head of BP’s North Sea operations, said the company cannot find the correct people to fill the roles. He adds that “getting hold of the right people is a real issue for us.”

BP views the North Sea as a ‘training ground’ where the most capable employees are developed before being moved overseas. Mr Garlick says that whilst “we are hiring a lot of people, but we are also an exporter of a couple of hundred people to other regions.” It is believed that the oil and gas industry is expected to create over 15,000 jobs in the next five years, though companies complain of the same problem as BP – being able to find qualified staff to fill positions.

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BP to Invest in North Sea Oil Fields

BP are to redevelop their North Sea oil fields, securing and creating jobs in the process, reports the Guardian.

 This is despite the Chancellor’s announcement of a £2 billion levy on North Sea oil and gas, to ease petrol prices, threatening the £12 billion investment and the expected creation of 15,000 jobs. Bob Dudley, BP’s chief executive, has said that the investment is due to the “extensive knowledge” BP has of the North Sea due to over “forty years experience.”

The Treasury has claimed that BP’s decision shows that the North Sea is an “attractive area for new levels of investment.” Despite a drop in offshore drilling of 52% in the second quarter, for a variety of reasons including the government’s budget, the investment is set to go ahead, keeping the offshore platforms running until 2035 at least.

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