Posted by Alex Turner
Scotland's first minister has launched a new industry strategy designed to bring long-term prosperity to the country's oil and gas sector.
It is hoped that the new strategy will safeguard some 440,000 jobs - half of which are in Scotland and many of which are filled by limited company contractors.
The new focus targets higher long-term recovery rates, annual sales of £30 billion and an increase in exports by 2020.
Mr Salmond said that oil and gas has been one of the country's major success stories and with £1.5 trillion worth of oil still to be extracted - the future is bright.
The strategy outlines plans to helping the industry securing the necessary skills by supporting innovation and technology deployment.
"Clearly the industry requires a stable taxation and regulatory regime to provide confidence and encourage long-term investments, something the Scottish government has consistently supported … and which we will continue to do so in the future," the minister commented.