Wednesday 14 April 1999

Offshore Oil and Gas Industry Welcomes Launch of Dedicated Parliamentary Group

The launch of the All Party Group for the British offshore oil and gas industry is welcomed by the UK Offshore Operators Association (UKOOA), the representative organisation for companies licensed to operate on the UK Continental Shelf.

Director-General James May said: We are delighted that Parliamentarians recognise that the UK offshore oil and gas industry merits particular attention in its own right.

This industry sector is a significant employer in the United Kingdom, supporting some 380,000 jobs. It is also a major generator of wealth, contributing £5 billion annually to the UK balance of payments and more than £150 billion in investment since 1965.

Its importance to the UK economy is considerable yet the industrys achievements and its specific concerns particularly as a high-cost province in a low oil price regime can be overlooked.

We welcome the opportunity presented by the new All Party Group to raise the profile of the industry within Parliament and look forward to working with its members.

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