BP to invest £1 billion a year to protect oil jobs
Major investment in North Sea oil industry
Published:
THOUSANDS of jobs in the Aberdeen area could be protected after a major oil industry investment programme was announced.
Energy giant BP is to spend billions of pounds in the North Sea during the next few years.
And the plans will see jobs provided for its 3,000-strong workforce.
An annual cash injection of £1 billion is expected to come from BP until at least 2020.
Matt Taylor, a spokesman at BP’s Aberdeen HQ, said the investment was good news for the North-east.
“Our plan is to invest more than £1bn capital each year, which should be good news for Aberdeen and the North Sea.”
Aberdeen North Labour MP Frank Doran also welcomed the package, which he said could protect jobs.
North-east Conservative MSP Alex Johnstone hailed BP’s investment plans but called for more tax breaks for oil firms to create more jobs.
He said: “We need to ensure there is a low tax regime so that the North-east economy can benefit from greater investment similar to BP’s plans.”
The news was also welcomed by Cosalt Offshore, which provides services to the oil and gas industry.
Chief executive Calum Melville said: “The announcement by BP is really positive news and shows what many of us in the industry keep saying is true – there is still a great future in the North Sea and there are many opportunities out there for the service sector.”
