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Friday 21st December 2012 | 12:43
SNP press release
The SNP is today welcoming the creation of 700 jobs and the news that Japanese oil and gas explorer JX Nippon are ready to invest billions in the North Sea oil.
The deals, which will see JX Nippon commit to the Mariner field south east of Shetland, are further evidence of the value of Scotland’s natural assets.
Maureen Watt, MSP for Aberdeen South and North Kincardine, said:
“The creation of 700 new jobs and financial interest from Japan is a sure sign that the stock of Scotland’s oil is a hugely valuable
“Despite anti-independence scaremongering about ‘oil running out' being wheeled out – the simple fact is Westminster politicians are terrified of losing Scotland's resources.
“North Sea oil is a tremendous asset with vast untapped reserves worth up to £1.5 trillion which allow an independent Scotland the ability to create an oil fund.
“The £1.5 trillion value of North Sea resources still remaining is much higher than the value already extracted.
“Instead of being squandered as they have been by successive Westminster Governments - Tory and Labour - we need the powers of an independent Scotland to ensure that oil and gas resources work for the benefit of the people of Scotland.
"The anti-independence parties have been saying that the oil and gas is running out since the early years of production in the 1970s - and the reality now is that more than half of the revenues are still to come.
“The anti-independence camp might like to paint a picture of Scotland’s oil and gas resources as somehow being a bad thing, the
simple truth is that Norway’s Government is far more reliant upon these resources than Scotland would be and nobody would dream of criticising the strength of their economy.
“There is a higher value of oil and gas remaining than has so far been extracted and if we are to make the most of them then we need access to the economic levers needed to ensure that Scotland remains a world leader in energy.”