UK Government Backs Shell-Exxon Venture In North Sea

Law360, New York (October 22, 2012, 6:21 PM EDT) -- Making good on promises to boost North Sea energy exploration, the British government Monday gave its blessing to a sizable oil and gas development pursued by units of Royal Dutch Shell PLC and Exxon Mobil Corp.

The so-called Fram Field project off the eastern coast of Scotland is expected to produce 35,000 barrels per day of oil equivalent, boosting the U.K.'s daily oil and gas output by 2 percent when it comes online by 2015 and marking one of the largest such projects greenlighted in the...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.