UK to Build 40 New Offshore Structures Over Next Decade?
Members of Oil & Gas UK’s fabrication forum on Thursday (26 July) met Chloe Smith, MP for Norwich North and economic secretary to the Treasury, to discuss the opportunities for growth in the UK fabrication industry. The dinner was held at Norwich City Football Club.
David Ripley, Oil & Gas UK’s supply chain director, said: “In the past year constructive engagement between Government and the oil and gas industry has succeeded in promoting investment and boosting the reserves planned for recovery from the UK continental shelf (UKCS). This is good news for the fabrication sector because projections for developments over the next ten years suggest that there is potential for the construction of around forty offshore structures, in a fabrication market estimated to be worth £6 billion. East Anglia, with its rich heritage of manufacturing and contractor expertise, is a key hub for the UK oil and gas industry and retains the capability to help serve this anticipated activity.
“Our discussions focused on how the Government can support UK-based fabricators in building capacity to service the forthcoming projects on the UKCS and on how the fabrication sector, as part of our world-class oil and gas supply chain, can best support UK trade, innovation and enterprise.”
Chloe Smith, MP, economic secretary to the Treasury, said: “Oil and gas is one of the UK’s biggest success stories, supporting high-end jobs and skills – such as in the fabrication industry – in East Anglia and across the country. We are now seeing a real return on the Government’s efforts to get the most of our vital national resources in the North Sea, with the confirmation yesterday that the £1.4 billion, 4,000–job Cygnus gas project is to proceed.”
Press Release, July 30, 2012