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Latest news: Government unveils oil and gas plan


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Graduates interested in the energy industry will be encouraged by a government strategy which is aimed at securing the long-term future of the sector 02/04/2013

A plan has been established to safeguard thousands of jobs, encourage billions of pounds of investment, bridge skill gaps and boost supply chains.

This follows the recent launch of the aerospace and nuclear strategies, as the government looks to boost the economy by helping eleven key sectors. One of these sectors is the oil and gas industry which employs over 400,000 people.

It is forecast that an additional 15,000 staff will be required over the next five years to help with the sector's expansion.

Business secretary Vince Cable said, 'The oil and gas industrial strategy is the start of a real plan of action owned by industry and government. It is a strategy that all sides are committed to, so that future decades of investment and growth can be maintained in the North Sea.

'This is an expanding industry. We can either help create more jobs and opportunities across the UK if we get this right, or see work going overseas if not.'

Malcolm Webb, Oil & Gas UK's chief executive stated, 'Record investment is forecast this year to search for and produce UK oil and gas reserves. This will be followed by an upturn in production from 2014, sustaining growth across the supply chain and reinforcing the industry's already significant contribution to the UK economy.'

The sector contributed £11.5 billion to the UK economy in 2012, over one fifth of the UK total.


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Written by Editor, Graduate Prospects
April 2013

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