Oil & Gas UK Commends Catcher Project

Oil & Gas UK welcomes the announcement today that Premier Oil plc’s Catcher Project is to go ahead, a project set to recover around 100 million barrels of oil from the North Sea.

Oil & Gas UK operations director Oonagh Werngren said:

“This is yet another clear sign that opportunity remains in the North Sea, and it reiterates the importance of ensuring the UK Continental Shelf (UKCS) continues to offer a stable fiscal environment where such investments can proceed, contributing to the long-term success of our industry.

“The Catcher Project, the largest investment announced in the UK North Sea this year and one of the largest industrial investments of 2014, is a good example of a project that has been enabled as a result of government field allowances.

“Development of Catcher will secure a significant number of jobs for the UK, provide a valuable source of primary energy to enhance our security of supply and generate tax revenues for the Treasury, which is all very much to be welcomed.”