Oil firm to invest £20m in North Sea operations

One of the world's largest offshore oil companies announced today that it will be investing £20m in its North Sea operations.

• North Sea oil rigs illuminated at night

Swire Oilfield Services said it will be spending the funds on its operations in Aberdeen, as part of a 50 million global investment drive.

According to the firm, the new cash will bring 20 new jobs to Aberdeen and pay for new headquarters in the city's Altens area, construction of which will begin in July next year.

Earlier this year Chancellor George Osborne announced 2 billion of new taxes on the windfall profits of oil companies. Industry body Oil & Gas UK claimed the move could jeopardise tens of thousands of jobs.

However, Swire chief operating officer Rupert Bray said he is "extremely positive" about growth in the industry. He said: "Whilst there may be some uncertainty in the North Sea due to recent tax changes, the global offshore energy industry presents a real opportunity to expand the company's global market presence.

"There is currently a high demand for safe, reliable, high quality and internationally approved offshore cargo-carrying units around the world."

Meanwhile, Oil & Gas UK has updated its guidelines for tanker loading to try to reduce the risk of collision, pollution, loss of mooring, fire and explosion.

Spokesman Paul Dymond said: "The new guidelines incorporate all the lessons learned from across the industry over the past few years, as well as advances in technology and operating practices."