Wilson challenges oil and gas industry
4 Sep 2001
The UK's Energy Minister Brian Wilson today challenged the oil and gas industry to unlock the hundreds of fields that are lying unexploited on the UK's continental shelf.
There are currently 250 fallow fields and 200 unused licences.
Research by the DTI shows that these fields could play an important role in helping the industry meet its ambitious investment target of £3bn each year.
'We will not have done our job properly if we fail to reap the benefit of the full potential of the fields we have already licensed,' said Mr Wilson, speaking at a meeting of British and international oil industry executives at the 'Offshore Europe' conference in Aberdeen.
'No one should doubt the Government's resolve that licences should be in the hands of companies that want to develop them,' added Wilson. 'Our system has traditionally given operators a great deal of time and flexibility in determining the pace of development. However, at this stage I think we are entitled to ask for firm plans or else alternative proposals.'
Mr Wilson also announced the approval of two new projects in theNorthern North Sea: Shell's Penguins development and Canadian NaturalResources International's Columba-E project.
The Minister said these were examples of how the use of new technology and innovative approaches had brought to fruition fields previously thought to be uneconomic.
