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Oil and gas sector hits a new high.

ENERGY companies are poised to step up investment in the UK Continental Shelf (UKCS) ensuring the continued prosperity of the region, according to a survey by Barclays of oil and gas operators and service providers.

The imminent release of more capital comes amidst news that investment in the sector has reached a 30-year high.

Almost 65% of those surveyed said they anticipated their company increasing its capital expenditure budget over the next two years, with more than 60% predicting an increase over a fiveyear period.

Walter Cumming, Head of Oil and Gas for Barclays Corporate Banking, said: "There is clearly a desire to add a high number of skilled staff to the North Sea workforce and drive forward activity over the coming decades."
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Sep 5, 2013
Words:123
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