Offshore energy firms say that improved government support would generate £290bn for the UK economy over 20 years

 
Mark Sands
Follow Mark
(FILES) File Photo taken in the North Se
The UK will head to the polls on 8 June. (Source: Getty)

Offshore oil and gas firms are calling on the next government to generate £290bn of revenue for the economy with better support for the sector.

In a report issued yesterday morning, the offshore trade body Oil & Gas UK urged politicians to help secure the future of the North Sea industry.

Among other measures, it is calling for a better developed UK energy policy focused on indigenous resources, rather than imported energy, and practical steps to protect operators, the supply chain and the industry workforce.

Read More: UK’s hottest day of the year breaks solar energy record

Collectively, it estimates that the package of reforms could generate £290bn for the broader economy over the next 20 years.

In addition, it estimates that government support could ensure industry is still a significant producer in 2035 and double supply chain turnover over the next two decades.

Deirdre Michie, chief executive of Oil & Gas UK, said: “Our blueprint details the steps we believe our political leaders should take to help sustain our industry, which continues to help secure the UK's energy needs and supports hundreds of thousands of jobs.”

Related articles