Umbrella Company Employees from each of the core contractor disciplines will be amongst those to benefit from a massive $1.6 billion investment in the North Sea by oil giant Dana Petroleum.
A major new development, the Western Isles project, has been given the go-ahead by the Department of Energy and Climate Change to begin extracting the treasures found in two recently discovered North Sea oil fields, Harris and Barra.
Commenting on the new cash injection, which follows recent tax measures from HM Treasury to attract more investment in the North Sea, Dana chief executive Dr Marcus Richards said: “The Western Isles project is at the heart of our growth strategy. Unlocking the potential of these new fields is a significant milestone as we aim to double our production to 100,000 barrels a day by 2016. We welcome the announcements by the Treasury this year to support oil and gas companies operating in the North Sea. This will help create a brighter future for the industry.”
Current estimates suggest that Harris and Barra between them will ultimately yield in excess of 45 million barrels. Contractors working through Umbrella Companies who specialise in IT, engineering, oil and gas can look forward to a steady stream of new assignments as work begins to extract the oil reserves.
The Minister of State for Energy and Climate Change, John Hayes, said that the project would generate new jobs and new opportunities for UK companies. He added that Dana Petroleum has proved its commitment to the North Sea and is playing its part to help to secure the UK’s future energy needs.”
The tax incentives are expected to attract billions in new investments and generate plenty of new jobs, with numerous contractor roles amongst them.