Even with the beginning of a global transition to a low carbon economy, there remains a continuing demand for oil and gas. Therefore it is essential that Scotland ensures good stewardship of our oil and gas reserves for the nation.
That’s why we have long argued for a more stable fiscal regime for the industry – in stark contrast to how it has been run by Westminster. And we have offered direct help through the Energy Jobs Taskforce whose initiatives have included practical assistance to help companies, an Apprenticeship Guarantee, and a £12.5 million innovation fund to help the industry seek new opportunities. We have also set up a £12 million Transition Training Fund to help oil workers retrain to get jobs in other sectors, including the renewables sector.
We have also supported the wider North East economy through our substantial support for the Aberdeen City Deal, as well as our plans for £254 million additional investment in the infrastructure of the North East.
We will continue to work closely with industry and workforce representatives striving for cost reduction without compromising safety. We will also press for tax measures to improve exploration and investment, and we will work to avoid premature cessation of production whilst taking steps to ensure that Scottish businesses benefit from decommissioning when it takes place.