Oil and Gas
The region offers:
- 40 years successful experience in offshore oil and gas
- Established exploration and production expertise in the Southern North Sea
- Proximity to existing highly developed pipeline and platform structures
- A skilled workforce with sector specific experience
- A strong and established energy industry network
- Innovation centres nurturing sector specific businesses
- A turnover in excess of £1.8bn and exports worth £232 million
- Dedicated offshore training facilities such as Petans and Lowestoft College
The East of England is an established hub for the oil and gas industry and a large base for major and international businesses. Regional ports and airports offer easy access to the Southern North Sea and platforms off the coast.
Ports can handle large-scale structures for the offshore industry and its diverse requirements.
Of the offshore oil and gas platforms:
- 153 are active
- six are being decommissioned
- five are in the planning stages
With a strong local workforce and vast relevant experience, the region has maintained its reputation as a national centre for offshore activity.
Oil and gas meet around two-thirds of the world’s demand for energy. Demand is expected to rise which means renewed interest in exploration.
Of the estimated 79 billion barrels-of-oil equivalent (boe) reserves in the North
Sea, only 34 billion boe has been produced to date. This potential offers strong prospects for sustained and lucrative activity and the East of England is ideally resourced to benefit.
The region’s oil and gas industry consists of more than 500 companies who directly employ 2,100 people and a further 13,200 indirectly.
