90 Years Left in the North Sea
News just in, the oil in the North Sea isn’t going to run out anytime soon. With wide spread rumours that the UK North Sea oil supply will run dry in the near future, Scottish Energy Minister Fergus Ewing states that this simply isn’t the case, with 24 billion barrels of oil and gas still to be extracted.
Rigzone recently reported that there is at least 9 decades of oil and gas production left in the UK North Sea. The Scottish industry is in fact investing in a number of new developments, some of which will produce oil until 2055.
Iterating that oil and gas operators need to action necessary measures to bridge the skills gap in Aberdeen, James Milne comments “this highlights the importance of long term recruitment and pushing forward with graduate programmes. The oil and gas talent pool is ageing, and companies need to nurture new talent in order to keep the industry alive for the next 90 years.”
This makes it pertinent to keep nurturing new talent, ensuring there continues to be large pool of skilled and knowledgeable professionals in the industry - avoiding skill shortages and consequent high salaries in the future
The oil and gas industry is crucial to the UK economy, and it is vital that operators and the Government work together to protect its future.