Commenting on the research published by Edinburgh-based analysts Wood MacKenzie that found that capital investment in the UK oil industry reached £7.5bn in 2011.
Dr Nanette Milne, Scottish Conservative MSP for the North East said:
“This research is a welcome pointer towards the success of the oil and gas sector in the North East and the strong growth which the sector has seen in 2011.
“The Prime Minister visited Aberdeen in October to announce a £4.5bn oil project in the North Sea by BP in Clair oil field.
“The UK Conservative Government is working hard to deliver growth and investment for the North East and work to make sure the region continues to be the Oil Capital of Europe and a centre for global investment for decades to come.”