More North Sea activity in wake of tax changes

THE Government's improvements to the North Sea tax regime in its March budget helped drive higher levels of investment and risk-taking, says a survey.

Offshore drilling activity on the UK Continental Shelf (UKCS) rose 64% in the second quarter of 2012 compared to the same period last year, according to Deloitte. The report shows 18 exploration and appraisal wells were drilled on the UKCS during the period – a 64% rise on the first quarter.

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