RIA Novosti: North Sea Oil to Benefit UK Economy Beyond 2060 - Oil Expert

Mark Hirst – One of the world’s leading oil experts, Alex Kemp, Professor of Petroleum Economics at the University of Aberdeen, told RIA Novosti that North Sea oil will continue to contribute to Scotland's national economy until at least 2060.

“Oil and Gas UK say there is the 15-24 billion barrels oil equivalent, but nobody knows with any certainty how much more is actually left,” Kemp said.

“My view is that the reserves will last beyond 2060,” he added.

Last month, Sir Ian Wood of the Wood Group oil company, claimed there were only 15 years of oil reserves left before a downturn would start to be felt in the wider economy.
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