First minister launches North Sea oil history book

First Minister Alex Salmond helped launch a landmark book on the history of North Sea oil and gas yesterday.

Professor Alex Kemp of the University of Aberdeen, one of the country’s leading experts in the field, forecasts that a further 15 to 25 billion barrels of oil could be produced over the next 30 to 40 years.

Over two volumes, the academic’s work entitled The Official History of North Sea Oil and Gas covers the development of UK policies to the industry from the early 1960s to 1993. It investigates how the idea of an “oil fund” was discussed and rejected – and how the Treasury argues “strongly against” any suggestion that oil revenues should be allocated to a Scottish parliament.

Mr Salmond described it as a “unique analysis” of UK government policies towards the industry from its early days.

“It is vital Scotland benefits directly from its own resources,” he said. “Scotland’s oil has already provided more than £300 billion in tax to successive UK governments, with revenues to the Treasury set to rise by more than a third over the next five years to the last five.”

The book will act as a key source for historians, particularly on the impact of the North Sea oil and gas industry on the economy of the North-East of Scotland.

Prof Kemp said: “I examine the attempt of the UK government to help British industry increase its share of the large offshore market for platforms, equipment and materials required to produce the oil and gas.

“The study highlights the efforts of the Offshore Supplies Office and the mixed response of British industry to the opportunity.”