The Yes and No campaigns in the Scottish independence referendum have welcomed new academic projections about the future of North Sea oil and gas.

The SNP said Professor Alex Kemp, director of Aberdeen Centre for Research in Energy Economics and Finance, has demonstrated that "Scotland's oil and gas industry will make a significant contribution well beyond 2050".

But Better Together said the academic "has today exposed the exaggeration, wishful thinking and spin at the heart of the SNP's forecasts".

Prof Kemp said future tax relief "could incentivise further field developments resulting in a total plausible range of 15-16.5 billion boe (barrels of oil equivalent) over the period to 2050".

"The year 2050 is a convenient date at which to stop detailed modelling, but the industry will continue beyond that date," he added. He urged politicians to aim towards recovering the oil and gas industry's own estimate of 24 billion boe.

"It is quite conceivable that the industry can be prolonged well beyond 2050 at activity levels which, while small by today's standards, contribute significantly to the national economy," he said.

"No-one can say with any assurance whether or not the long-run upper potential of 24 billion boe foreseen by Oil & Gas UK will be achieved, but policies consistent with this should be put in place."

Scottish Energy Minister Fergus Ewing said: "I warmly welcome his prediction that Scotland's oil and gas industry will make a significant contribution well beyond 2050. It's also particularly interesting to note his views on the impact of technological advances on Scotland's oil and gas sector, his prediction than oil recovery rates will improve and that more fields may be reopened as technology improves further, especially as he highlights the Miller field where there is the reported potential of around a further 40 million barrels."

Labour's shadow energy minister Tom Greatrex said: "Prof Alex Kemp has today exposed the exaggeration, wishful thinking and spin at the heart of the SNP's forecasts on Scotland's recoverable oil and gas reserves."