£27 Billion Oilfield Services Sector is Core to British Engineering and Manufacturing, says Oil & Gas UK
Thursday 7 March 2013
£27 Billion Oilfield Services Sector is Core to British Engineering and Manufacturing, says Oil & Gas UK
Welcoming the publication of Ernst & Young's review of the £27 billion UK oilfield services industry, Oil & Gas UK's chief executive Malcolm Webb said: “Britain’s oilfield services sector is a core component of the UK’s engineering and manufacturing base and enjoys a worldwide reputation for excellence and innovation honed over 40 years at the cutting edge of exploration and production.”
“Ernst & Young’s report highlights a sector in robust health. With up to 24 billion barrels of oil and gas left to recover in the UK, continued investment in our own reserves bodes well for the supply chain and, subsequently, UK employment, tax revenues, energy security and balance of trade.”
Ends
Notes to Editors
Ernst & Young's release is available here and the full report can be downloaded here.
Oil & Gas UK's recent forecasts of increased investment in Britain's oil and gas reserves are available here.
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