Hain: UK service and supply firms must diversify

04/02/2001
UK oil and gas service and supply companies need to diversify into markets including renewable energy while increasing exports, UK Energy Minister Peter Hain said last week.He said such diversification is necessary if the government-industry task force Pilot is to meet its target of securing £1 billion/year of new business by 2010."The oil and gas industry in the North Sea is alive and well and will continue for many years," the minister said, "but the prosperity of the UK supply chain relies not just on the buoyancy of North Sea activity but also on diversification and exports. Diversification and exports will help to broaden the base of the industry and maintain jobs. Companies ca...
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