BP has said it sees opportunities to invest in the North Sea – if the Government removes heavy windfall taxes on the industry.
It comes as industry body Offshore Energies UK said operators are ready to put £17.5billion into oil and gas projects if the tax burden is cut.
Reports have suggested that BP chief executive Meg O’Neill is considering a withdrawal from all or part of its North Sea operations.
However, she believes there are plenty of opportunities if the tax and regulatory situation was more favourable.
BP is a big investor in Britain and plays a crucial role in the economy. Maintaining or increasing its operations in the North Sea would be a major boost.
