Industry view: What now for the oil and gas industry?

The North Sea oil and gas industry has been subjected to greater scrutiny than ever in the run up to the independence referendum.

The attention given to the industry and analysis of its value to Scotland and the UK, from both sides of the political argument and impartial sources, has led to heightened awareness of our sector.

Knowledge of the challenges facing our industry is widespread. Low levels of production, high operating costs and the demand for new wells have been widely reported. Now people want to know what the future holds.

Uncertainty in the political outcome has been blamed for stalling investment in the UK oil and gas industry in recent months.

A report published this summer by business advisory group Deloitte stated that oil companies had adopted a “wait and see” policy.

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