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There is still a future for North Sea oil and gas

18/07/2014 by

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In the countdown to D-day for Scottish independence, there is a rift in opinion over the future of the North Sea's oil and gas industry. Even after a recent decision to downgrade its forecasts, the Scottish National Party (SNP) believes the maturing oil and gas fields could generate tax revenues of £34.3bn between now and 2018-19. The Office of Budget Responsibility (OBR) has put the figure at less than half that: just £15.8bn.

Despite concern about depleting reserves, innovation in the energy sector is particularly strong. Businesses working in the North Sea recognise that what they learn here about deep-water extraction will stand them in good stead when working or servicing fields in other parts of the world, particularly if they can secure patent protection for deep-water innovations.

One challenge the industry faces is tapping new wells. At depths of almost 2km, the technical challenges associated with installing equipment are immense. There is now a move towards new modular units that are dropped into place and then managed by remotely-operated underwater vehicles. New cages to protect the technology and mechanisms

This article has been extracted from http://www.theguardian.com, please click on this link to read the article in full http://www.theguardian.com/big-energy-debate/scottish-referendum-north-sea-oil-gas

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

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