Westminster’s North Sea Stewardship ‘not fit for purpose’ says enquiry boss

Amjad Bseisu
Amjad Bseisu, Chief Executive of EnQuest

The SNP has welcomed comments from EnQuest – the biggest UK independent oil producer in the North Sea.

As reported in the Press and Journal, Chief Executive Amjad Bseisu welcomed that the ‘Scottish Government plans a stable and predictable fiscal and regulatory regime’ and criticised the UK Government’s running of the current system as being ‘out of date and no longer fit for purpose’.

Maureen Watt, SNP MSP for Aberdeen South and North Kincardine, said:

“These welcome comments from EnQuest Chief Executive Amjad Bseisu are a vote of confidence in Scotland from a leading and growing oil company.

“Successful fiscal management of the vast resources in the North Sea is vital for the best interests of Scotland’s future – and an independent Scotland can succeed where Westminster has failed.

“More than half the value of North Sea oil remains – up to 24 billion barrels with a potential wholesale value of up to £1.5 trillion. We must not let Westminster continue to squander the remainder of this hugely valuable resource and deter further investment; instead we must work with the industry and ensure that oil and gas revenues are used to benefit all of the people of Scotland.

“With less than six months until the independence referendum, and poll after poll showing growth in support for a Yes vote, Scotland has a second chance to steward oil and gas for the benefit of the whole nation – and we must grab that opportunity.”

 

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