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Scotland oil, gas sector to receive $360m investment

29 Jan 2016

The Scottish and UK governments announced this week that they will inject $358 million into northeast Scotland’s economy. The new agreement is part of an initiative to support Scotland’s oil and gas sector.

Equal funding will be provided by both governments to assist with the development of a new energy innovation centre and extend Aberdeen harbour to enable the city to complete decommissioning work.

“Oil and gas is a crucial sector, not just for the North East of Scotland but for the whole of the UK. I know it’s a very tough time for people who work in the industry and their families, and I am determined that the UK Government will do what it can to support them,” said Secretary of State for Scotland, David Mundell.

UK Prime Minister, David Cameron plans to visit Aberdeen today to finalise the agreement with UK City Deal and is expected to also announce how the government will protect jobs within the oil and gas sector.

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