£100bn spending plans signal North Sea boom

OIL companies are planning to splash out almost £100billion on projects in UK waters – delivering a massive boost to the north and north-east economy.

Thousands of jobs are being created and tens of thousands of people will be kept in work as the energy business makes its biggest investment for more than 30 years.

Industry body Oil and Gas UK said this massive cash injection follows the introduction of tax changes designed to encourage growth in Britain’s oil and gas sector.

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