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| Aberdeen to be home for new oil and gas agency | Aberdeen to be home for new oil and gas agency |
| (about 1 hour later) | |
| A new agency aimed at increasing collaboration across the oil and gas industry is to be based in Aberdeen. | A new agency aimed at increasing collaboration across the oil and gas industry is to be based in Aberdeen. |
| The independent Oil and Gas Authority body is being set up after a recent review of the sector carried out by businessman Sir Ian Wood. | The independent Oil and Gas Authority body is being set up after a recent review of the sector carried out by businessman Sir Ian Wood. |
| The search for a chief executive for the new agency will begin next week. | The search for a chief executive for the new agency will begin next week. |
| Chief Secretary to the Treasury Danny Alexander made the agency announcement in Aberdeen, which is regarded as Europe's oil capital. | |
| The Oil and Gas Authority will be designed to encourage economic production in the UK and provide sustainable long-term support for the industry. | The Oil and Gas Authority will be designed to encourage economic production in the UK and provide sustainable long-term support for the industry. |
| Mr Alexander told the Oil and Gas UK annual conference: "We have been thinking about where it should be based. | |
| "It is my view that it should be located at the heart of the UK's oil and gas industry. So I can tell you that it will be based right here - in Aberdeen." | "It is my view that it should be located at the heart of the UK's oil and gas industry. So I can tell you that it will be based right here - in Aberdeen." |
| A Scottish government spokesman said: "North Sea oil is a huge asset to Scotland, and will be for decades to come. | A Scottish government spokesman said: "North Sea oil is a huge asset to Scotland, and will be for decades to come. |
| "North Sea investment has been booming at record levels, and the industry themselves predict that we will see a near 15% rise in oil and gas production between 2013 and 2018." | "North Sea investment has been booming at record levels, and the industry themselves predict that we will see a near 15% rise in oil and gas production between 2013 and 2018." |