Demand for Oil & Gas show nation's wealth depth

The SNP are today (Wednesday) welcoming figures which show a record number of companies looking to explore and develop in the North Sea.

The latest licensing round for oil and gas drilling has seen a total of 224 applications submitted - the largest number since offshore licensing began in 1964.

SNP MSP Maureen Watt explained how this - following on from a report by Aberdeen and Grampian Chamber of Commerce that shows the majority of companies do not think the 2014 referendum is a factor in investment in the North Sea Oil industry – is further compelling evidence that Scotland will be a wealthier nation post-independence.

Ms Watt, SNP MSP for Aberdeen South and North Kincardine, said:

"Scotland has a trillion pound North Sea asset base – with some 40 per cent of reserves remaining and over half of the value still to be extracted. ‪

"The demand absolutely underlines the need for Scotland to gain responsibility over our own resources with independence, for the long-term benefit of the country.‪ ‪

"Oil and gas will continue to provide a very significant number of direct and indirect jobs for a very long time to come.‪‪

"With responsibility for our own vast natural resources, an independent Scotland will be able to make the most of these massive revenues, including an oil fund for future generations, while continuing to support investment in one of the nation’s most important industries.

"The Chancellor’s U-turn on the damage he previously did with his tax grab - by bringing in the measures we had been calling for in his budget in April - is a clear vindication of the SNP’s on-going campaign for a better deal for the North Sea oil industry and jobs."

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