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<p>The Government is committed to encouraging investment in the oil and gas industry
across the whole of the UK, building on previous incentives such as tax reduction
and funding support.</p><p>It awarded the Oil & Gas Authority a £5 million fund
for 2018/19 to survey under-explored areas of the UK Continental Shelf to find potential
new deposits. The successful award of licences for the UK’s Frontier 31<sup>st</sup>
Offshore Licensing Round announced in June was supported by data from the Government-Funded
Seismic Programme.</p><p>The Oil & Gas Technology Centre, backed by both the UK
and Scottish governments, today has more than £100 million co-invested with industry
to develop and deploy technology, helping anchor the industry’s expert engineering
supply chain in the North East. In May, the government backed industry plans for a
Global Underwater Engineering Hub in Aberdeen to reinforce the UK’s status as a global
leader in the field and build on expertise in subsea robotics, remotely-operated underwater
vehicles and maritime support vessels. This will strengthen Aberdeen’s place as an
energy hub for offshore and renewables, boosting prospects for new skilled jobs and
further investment in the region.</p>
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