Oil and gas sector vibrant says MSP

A strong fututre: Dennis Robertson pictured at Scottish Parliament
A strong fututre: Dennis Robertson pictured at Scottish Parliament

Following the announcement of the winners of the latest licencing round, interest in the North Sea from investors is at record breaking levels.

Commenting, the Deputy Convener of the Economy, Energy and Tourism Committee, Dennis Robertson MSP said: “The oil and gas sector is one of the brightest spots in Scotland’s economy, so it is little wonder that there has been such overwhelming interest in the industry.

“The industry is boosting the UK’s balance of trade by £40 billion, demonstrating the important contribution Scotland makes and would continue to make to a Sterling area.

“With an estimated 24 billion barrels of oil still to be extracted, it is clear that the North Sea oil and gas sector will continue to have a strong future ahead of it for many years to come.

“However, it is essential that the industry is no longer treated as a cash-cow to prop up the books at the Treasury and is managed well for the long-term.

“Investors are making it clear that they are trusting the Scottish Government with the date of the referendum and they recognise that in a democracy it is up to the people to choose their own future.

“An independent Scotland would rightly manage our resources in a way that secures a sustainable legacy for future generations, including the establishment of an oil fund.”