Scotland 'at forefront of oil industry'

3 December 2008

The Scottish oil industry is at the forefront of development and continues to be a world leader, it has been claimed.

Commenting on the launch of FMC Technologies' £12 million oil research and development centre near Glasgow, enterprise minister Jim Mather said it demonstrates that Scotland's energy sector is in good health despite current economic turmoil.

He added: "The skills and knowledge developed in Scotland since the development of the North Sea are among our key economic strengths."

The new Subsea Product Centre comprises three laboratories dedicated to the development of subsea technology and products.

David Currie, managing director of FMC Technologies, said the new centre will challenge problems faced by the oil industry.

Although good news for home heating oil customers in terms of energy bills, the global industry is currently struggling on the markets as the value of crude oil remains low.

A barrel of Brent crude now stands at $46 (£31.12) and US crude at $47.28 per barrel.

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