Who has a right to claim North Sea oil?

The issue of who owns the oil and gas in the waters off Scotland’s coast will be one which is sure to play a big role during the campaign ahead on the referendum in autumn 2014.

The first North Sea oil came ashore in June 1975 and is thought to have peaked in 1999, with more than 40 billion barrels extracted so far.

There are arguments about how much oil is left but historically high prices have made it more economical to drill for the harder-to-get reserves and new technologies are also being developed to help with that process.

Read the full article here: BBC News – Who has a right to claim North Sea Oil?

 

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