U R NumberOne
18th Dec 2000, 13:47
From AOL News :
<font face="Verdana, Arial, Helvetica" size="2">More than £1 billion worth of investment in North Sea oil projects is set to be given the go ahead today creating up to 2,500 new jobs.
The projects will boost production of oil from the North Sea by millions of barrels a year.
The first scheme is a £320 million plan to carry gas via a pipeline from the Shetland Islands to the Magnus oil field creating 1,000 jobs.
The second project is in the Leadon oil field, also off Shetland, where a floating platform will be used to drill for oil at a cost of £340 million creating 900 jobs.
The platform is expected to be in place by the end of next year and production should start early in 2002 leading to the extraction of 50,000 barrels of oil a day.
The third scheme, run by BP, is in the Foinaven oil field at a cost of £210 million creating 550 jobs through the production of £85 million barrels of oil.
Another project, worth £75 million has been drawn up by Ranger Oil creating 80 jobs in the Kyle oil field.
The projects set to be announced today by Trade and Industry secretary Stephen Byers will provide work for up to 15 years and will signal one of the biggest boosts for the North Sea for years. </font>
Is this the good news BHL and Scotia have been waiting for? What increase in traffic is anticipated (fixed and rotary wing) and are the companies in a position to cope?
<font face="Verdana, Arial, Helvetica" size="2">More than £1 billion worth of investment in North Sea oil projects is set to be given the go ahead today creating up to 2,500 new jobs.
The projects will boost production of oil from the North Sea by millions of barrels a year.
The first scheme is a £320 million plan to carry gas via a pipeline from the Shetland Islands to the Magnus oil field creating 1,000 jobs.
The second project is in the Leadon oil field, also off Shetland, where a floating platform will be used to drill for oil at a cost of £340 million creating 900 jobs.
The platform is expected to be in place by the end of next year and production should start early in 2002 leading to the extraction of 50,000 barrels of oil a day.
The third scheme, run by BP, is in the Foinaven oil field at a cost of £210 million creating 550 jobs through the production of £85 million barrels of oil.
Another project, worth £75 million has been drawn up by Ranger Oil creating 80 jobs in the Kyle oil field.
The projects set to be announced today by Trade and Industry secretary Stephen Byers will provide work for up to 15 years and will signal one of the biggest boosts for the North Sea for years. </font>
Is this the good news BHL and Scotia have been waiting for? What increase in traffic is anticipated (fixed and rotary wing) and are the companies in a position to cope?