Energy companies announce UK investments at summit

Energy companies have announced major UK investments at the London 2012 summit.

GDF SUEZ, Centrica and Bayerngas have committed £1.4bn to a Field Development Plan for Southern North Sea; BP is investing £60m in an International Centre for Advanced Materials (BP-ICAM); Versalis is investing between €50–60m (£39m–47m) to expand Scottish elastomer production; and Neftex is to recruit 50 new staff after winning new contracts.

Other highlights include Tangent Technologies, which has won £105,000 Australian contracts, expanding UK jobs; and Melrose Resources, which has been granted a six-year concession for natural gas extraction in the Bulgarian Black Sea.