The UK government continues working toward offering tax breaks to encourage shale gas exploration and production, and the proposed measures could make onshore shale exploration more attractive to oil and gas companies already operating offshore UK, a Deloitte spokesman said.
UK Chancellor George Osborne discussed the incentives in his annual budget speech to Parliament on Mar. 20.
"Shale gas is part of the future, and we want to make it happen," Osborne said. Last year, Osborne announced a push for gas development in his Autumn Statement.
The UK government lifted a temporary moratorium on hydraulic fracturing in December (OGJ Online, Dec. 13, 2012).
The fracturing mortarium was ...