In the recent budget there was some talk about making continued investment in the North Sea Oil Fields attractive.
This has been done by offering tax breaks to those developing and exploring some of the smaller fields. With the lower Oil Price many of these fields, which are often harder to reach, are unattractive to investors. The tax breaks hope to change that.
The breaks will be called a ‘field allowance’ and it has been decided that a smaller field is one with up to 20million barrels of Oil.
Venture Production (VPC.L) is an Oil Company working exactly these types of fields, and is one of the shares tipped to benefit.
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