British oil and gas has been in decline for several decades as the basin slowly gets used up. As a result, companies like Shell have turned their focus to more attractive fields elsewhere in the world ...
As production from existing fields dwindles and the average ... The two firms currently employ about 1,300 people in upstream oil and gas roles in the UK, and pump almost 140,000 barrels a day ...
Parkmead blamed rising costs, skills shortages and ageing infrastructure for a decision to abandon the proposed Perth oilfield development in the North Sea.
"The new company will invest to provide a long-term future for the individual oil and gas fields and platforms, helping extend the life of this crucial sector for the benefit of the UK." ...