A UK Onshore Operators Group (UKOOG) commissioned report by EY today underlines the development of shale gas in the UK could create a £33bn investment opportunity for British business with the potential to create over 64,000 jobs.
UKOOG’s “Getting ready for UK shale Gas”, forecasts that to drill up to 4000 laterals (horizontal wells) over an 18 year timeframe the industry will need to spend in the region of £33bn in supply chain activities.
The study further estimates that at its peak this supply chain can be the source of around 64,000 jobs directly linked to shale gas exploration sites, indirectly in the supply chain or supporting services as a result of this new investment activity. However, the study warns that the UK needs to work now to lay the foundations for the necessary infrastructure, supply chain standards and skills requirements before developers look overseas.
The study was commissioned to answer three important questions. Firstly what will it take to build a shale gas pad in the UK in terms of supply chain and skills; secondly what are the capabilities in the UK to do so; and finally what would be needed in order to fill the gaps and to stimulate the supply chain and skills the UK already has.
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