Commenting on today’s launch of new E&P joint venture Spirit Energy, which combines Centrica plc’s E&P business with Bayerngas Norge AS, Deirdre Michie, Chief Executive of Oil & Gas UK, said:
“We welcome the arrival of a new independent operator to the North Sea. The launch of Spirit Energy is another positive sign of the strengthening belief in the future of this basin. It comes at a time of much merger and acquisition activity clearly signalling the investment potential of the UK Continental Shelf.
“Billions of barrels of oil and gas still remain within the basin. We need a diversity of companies with fresh ideas and innovative thinking to ensure we make the most of our own indigenous resources, which are vital for helping to meet our energy needs, and which also support hundreds of thousands of UK jobs.”