ABERDEEN, Scotland, Sept. 7 (UPI) -- The North Sea is vital to regional economic prosperity, the British energy minister said after Chevron and BP were backed for new work there.
British Energy Minister Charles Hendry announced that Chevron won the rights for its third deep-water exploration well of the coast of Scotland. BP was approved to develop its Kinnoull field, which could produce as much as 45,000 barrels of oil per day.
Hendry said at an energy conference in Scotland that the developments show the North Sea is still an important regional asset.
"Since we started exploring and producing in U.K. waters, we have been at the leading edge of a worldwide industry," he said. "And we still are."
Hendry's optimism comes as two different companies announced they would showcase new oil spill containment systems meant to respond to disasters in the North Sea. U.S. and international oil companies formed the non-profit Marine Well Containment Co. in response to last year's oil spill in the Gulf of Mexico.
