Scotland’s energy minister has said that Chrysaor’s deal for Shell assets proved the country’s oil and gas industry still had a bright future.
Paul Wheelhouse said: “This deal is further proof of the opportunities which remain in the oil and gas sector and will see Chrysaor become a key independent operator in the North Sea for the first time.
“The plans will help the industry maximise economic recovery, in line with Oil & Gas Authority guidance around having the right assets in the right hands, create the right environment to drive innovation, and encourage new investment.
“It is also important to remember Shell remains committed to the North Sea, as one of the largest resource holders in the region and is investing in fields, in key areas such as west of Shetland.
“Scotland’s oil and gas industry has a bright future. Despite recent challenges, great progress has been made on improving the sustainability and efficiency of production.
“It is estimated that as many as 20 billion barrels of oil remain available and the industry supports almost 125,000 Scottish jobs.
“Scotland’s oil industry and the men and women who make it an internationally acknowledged success story continue to have the Scottish Government’s full support and Chrysaor’s investment is a vote of confidence in the North Sea.”