Oil and Gas: UK Continental Shelf

Lord Hayward Excerpts

Tuesday 9th February 2016 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, the package that the Prime Minister announced on 28 January includes £20 million of new investment in seismic exploration. This will be of assistance, together with the City Deal package for Aberdeen which includes a new innovation energy centre. I hope that the noble Lord will welcome it.

[Lord Hayward (Con)]

Will my noble friend please bear in mind that although this is a major problem for the north-east of Scotland and the Grampian area in particular, the oil and gas industry and exploration on the continental shelf have generated much wealth for the whole of this country, and therefore tackling the particular issues of the continental shelf will benefit large parts of the nation’s economy?

[Lord Bourne of Aberystwyth]

My Lords, my noble friend is absolutely right about the benefits to the whole of the United Kingdom from oil and gas exploration. He will be aware that two massive new fields to the west of Shetland were opened today by Total in Laggan and Tormore, which is very good news.