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OIL AND GAS
Energy companies remain committed to Scotland
by Daniel J. Graeber
London (UPI) Sep 19, 2014


disclaimer: image is for illustration purposes only

After a "no" vote, British energy company BP said Friday it would work closely with the governments in Edinburgh and London to boost North Sea recovery.

More than half of the voters taking part in a Thursday referendum for independence from the United Kingdom chose to continue on with 307 years of unity.

BP said it would stay on with its commitments in the North Sea.

"BP will continue to work closely with both the UK and Scottish governments to realize our shared ambition of maximizing economic recovery from the North Sea," the company said.

Scotland said independence would have drawn in substantial oil and gas wealth in the North Sea, with power coming from renewable resources.

Edinburgh touted the revenue potential on the day of the referendum. Analysis this week from Wood Mackenzie found that while most of the North Sea reserves would've gone to Scotland, production was on the way to a precipitous decline.

For Shell Chief Executive Officer Ben van Buerden, the "no" vote removed a level of uncertainty in North Sea investments.

"We look forward to continuing our proud association with Scotland," he said.

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