UK announces plan to speed up oil and gas developments

Sep 25, 2001 02:00 AM

A £ 2.4 mm plan to push through approvals for oil and gas developments has been announced by the UK Government. Trade and Industry Secretary Patricia Hewitt unveiled the investment as she officially inaugurated the huge Elgin Franklin oil and gas fields in the North Sea, which are expected to produce around 5 % of the UK's gas production.
The Government fund will speed up the application of approvals and regulatory reporting by allowing them to be processed electronically. "It is vital that business and Government make the most of cutting edge technology to make daily business easier and faster," said Mrs Hewitt, who flew by helicopter to visit the field 150 miles east of Aberdeen.
She says the new field, which supports 260 jobs in Scotland and a further 400 in support services, will have a life expectancy of 23 years. She adds it sends a signal to the world the UK Continental Shelf was a rewarding place to do business, even after 30 years of production.

Source: Ananova
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