The Future of the Offshore Oil Industry

In 1989, the oil industry in the UK had a total investment worth of £2.5 billion. In 1992 this has doubled and it forms the highest level of investments for any one particular UK industry. To date, a good flow has been obtained in the North Sea platforms.

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The use of oil will always be in demand for a long time although analysts predict a drop in demand from the year 2020. With the increase of computers, cars and airplanes there is a continued demand for oil. The future for oil looks good with recent discoveries of oil fields in Shetland Islands and other areas of Scotland and further areas worldwide are continually being investigated.