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    FT: Record investment planned for North Sea

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Oil & Gas UK expects production to rise as 14 new oilfields com into production this year, which in turn will trigger record levels of investment expected to flow into the North Sea.

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FT: Record investment planned for North Sea

Record levels of investment will flow into the North Sea this year as 14 new oilfields come into production, triggering a historic rise in oil and gas output after more than a decade of decline.

According to Oil & Gas UK, the offshore industry group, some 470m barrels of oil and gas will come on stream in 2013 – a fivefold increase on the average over the past three years. The group’s chief executive, Malcolm Webb, told the Financial Times that capital investment in new fields will rise from £11.4bn in 2012 to £13bn this year – the highest ever.  MORE

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