We’re here to make onshore oil and gas a British success story.
We believe that the best way to maximise the economic advantages of exploiting Britain’s indigenous onshore hydrocarbon resources, is to ensure that the supply chain supporting it is packed with British SMEs.
According to House of Lords shale gas report – The Economic Impact on UK Energy Policy of Shale Gas and Oil the development of shale gas in the UK could provide substantial job opportunities in areas of exploration and production.
Smaller companies are much more likely to recruit than their larger counterparts, creating jobs and helping people into work as they grow in order to keep pace with increased demand.
British SMEs will also pay their taxes in Britain, generating much needed revenues that can be used to help reduce the deficit and pay for vital public services.
And there is also a considerable export opportunity for British SMEs with the skills and capabilities to assist other countries in the development of their natural resources, as we’ve already seen in Aberdeen. The House of Lords Economic Affairs Committee inquiry concluded that if the UK has first mover advantage among countries on this side of the Atlantic, there might also be the opportunity to create a British or European skills hub, with scope to grow and prosper as shale gas develops in other countries.
In the future, SMEs could be just as important to the successful development of our nation’s hydrocarbon resources as they are to our aerospace industry, where British SMEs are responsible for over 55% of all civil aerospace sales.