April 2013, Vol. 240 No. 4

Features

UK Oil And Gas Sector To Create 34,000 Jobs Within Two Years

The UK oil and gas sector could create more than 34,000 new jobs within the next two years according to research from Lloyds Banking Group. However, the bank added that a skills shortage in the sector remains its biggest challenge. The news comes after a report published late February by Oil & Gas UK stated that investment in offshore oil and gas projects on the UK Continental Shelf is forecast to increase to a record level of at least $19.6 billion in 2013. According to a survey conducted by Lloyds, 77% percent of companies are planning for growth in 2013 and 2014. The bank talked to 100 UK oil and gas firms for its report Oil & Gas: Rising Fortunes 2. More oil and

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