Dunc

[Dunc @RGDunc]

@Wildwatertv @MuttleyMusings @RealGreenAcres @griffitha Further buying oil and or gas from UK incorporated companies is offset because their profits are taxable. Therefore it improves our trade deficit and balance of payments. So it is cheaper to buy UK NS oil and gas, in a roundabout way. Fact.

[Dunc @RGDunc]

@Wildwatertv @MuttleyMusings @RealGreenAcres @griffitha ALL gas is landed on UK shores and in to the national grid. Some can be sold to Europe via interconnector pipeline but has constraints and c/w tarrifs. It is generally cheaper to buy gas from UK NS than it is to import. Fact.

[Dunc @RGDunc]

@renewablesmiffy @ReemAmirIbrahim How about let the market decide whether its economical to drill or not? An assumption by agenda driven green lobbyists (renewablessmiffy im looking at you) and ideology is clearly conflicted. If the North Sea is dead, why ban drilling?

[Dunc @RGDunc]

@chrisw66 @RobertJenrick What's your point? Surely better to pay UK incorporated companies for North Sea gas (thus sustaining jobs, increasing tax, incentivising invesment, growth, etc. etc.) than the Norwegian state.

Isnt THAT the point?!

[Dunc @RGDunc]

@Jonnydc1986 @MrHarryCole Yes it would. The UKs energy policy is fundamentally flawed. Long term tax revenues will be hugely down because of it, making us poorer and more reliant on other countries for imports. We pay other countries instead of British companies for our O&G

[Dunc @RGDunc]

@Davidapcooke @SirSimonClarke Maybe because it protects jobs, increases growth, investment, long term tax revenues which can ultimately be used on services (indirectly reducing energy cost)

[Dunc @RGDunc]

@renewablesmiffy @ClaireCoutinho Exploration and drilling absolutely creates reserves. They move from resources to reserves as proved up. If you don't explore then of course the basin will dwindle - see Norway as example. Accelerating that decline makes UK less resilient & weaker whilst accomplishing very little

[Dunc @RGDunc]

@ret_ward All we appear to be achieving is high energy prices and the deindustrialistion of the UK, creative accounting with offshipping emissions, loss of skilled jobs and long term reduction of tax take. Such a polarised policy favouring only renewables will only make the UK weaker.

[Dunc @RGDunc]

@ret_ward Perhaps because its a fundamentally flawed energy policy that deincentivises investment, growth and makes the UK weaker, whilst doing nothing for emissions globally. Perhaps a better policy should be to prioritise cheaper energy, both renewables and o&g can coexist.

[Dunc @RGDunc]

@alistairkgrant If that were a reasonable argument, then a headline 78% tax can be extended to other industries in the name of child poverty. It is fundamentally flawed. Windfalls exist elsewhere in britain untouched. Its gaslighting, plain and simple.

[Dunc @RGDunc]

@DMBrookfield Now replicate for UK only production. Focusing on global profits is misleading and totally irrelevant to the situation.

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Norway doesn't own the Northern North Sea!!

It is split East and West, with the Danish/Dutch sector South-East. There is no Finnish Sector!

At this point, I think you're just trolling me. If so, bravo 😂

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Use your noggin 😅 I posted the UKCS map, not as the definition of the entire North Sea but as a representation of the extents of UK ownership and to show it stretches far to the North, despite what you alluded to in your original post

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Haha. Yeah, I can tell you've used Google. Good for you. Steam injection 😂

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Yes, it is by design in many cases in the North Sea. Water is of course a by product in production but in many mature fields it is used to maintain pressure and drive/sweep the oil. AND Operators can overboard produced water once OIW is down to sufficient levels. Expert? 🤣🤣🤣

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Are you for real?! Early CoP is happening as a direct result of increased tax burden, uncertainty and reduced investment allowances. There are several PUBLIC announcements of companies moving forward CoP because of this.

What a condescending fool

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ What complete nonsense. O&G bodies have lobbied government for months that the tax burden on North Sea Operators is indeed punitive. It is not sustainable and will lead to the early CoP of many fields and companies leaving UK. Already happening

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Also. Steam injection? Preferred EOR method in the North Sea? Jeezo 🤦

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Ian, for some reason I can't reply directly to you anymore 🤔😅

You are talking bollocks. There is maybe 1 or 2 at c.1000m water depth in the Uk North Sea. Exception doesn't prove the rule. 3000, no chance. You posted about a drill rig capable of drilling in the GOM or Brazil!

[Dunc @RGDunc]

@dearbrit_ian @AlexBarnicoat_ Nope, work in the sector so understand it. I agreed it was mature and needs to be managed responsibly to maintain it. That is not happening. I can assure you, the North Sea is NOT deep or ultradeep 😂😂 Up to a few hundred metres is typical. West Shetland a couple hundred more