Press

Ashurst comment: Oil & Gas UK Economic Report 2018

Posted by OilVoice Press - OilVoice

11-Sep-2018


Commenting on Oil and Gas UK's Economic Report 2018, Michael Burns, oil and gas partner at law firm Ashurst, said:

"The report confirms just how resilient the UK oil and gas industry has been, and there is certainly a 'good news story' to be told in terms of continued reductions in development and operating costs, as well as new projects reaching final investment decision stage. What cannot be ignored is the fact that drilling rates are down overall but hopefully the newer investors in the basin will provide new impetus to generate future activity.  In this context, the report sounds a timely warning about the uncertainty currently being presented by the ongoing Brexit negotiations and how crucial the right deal will be for the industry."



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