UK Chancellor Mentions Hi-Tech Tax Breaks on Bibby Offshore Visit

By George Backwell
Friday, July 25, 2014
Osborne (L) & Woodcock: Photo courtesy of Bibby Offshore

Bibby Offshore, subsea services provider to the oil & gas industry, says it has hosted a visit by George Osborne, Chancellor of the Exchequer, to the Company’s workshop, storage and maintenance facility in Aberdeenshire, Scotland.

The Chancellor was given a tour of Bibby Offshore’s new 50,000 sqft state-of-the-art Westhill facility, The Hangar. His visit follows the Company’s recent investment into its facilities; including the installation of a 16 tonne Gantry Crane and five separate workshops allowing for numerous speciality activities, such as care and maintenance of dive hats and diver umbilical’s.

Bibby Offshore adds that during the visit, the Chancellor announced the Government has published a consultation on a new cluster area allowance to encourage investment in ultra high pressure, high temperature oil and gas fields. The allowance is designed to support investment in technically challenging development projects and encourage exploration in the surrounding areas. The allowance will reduce the tax on a portion of a company’s profits from 62% to 30% at current rates.

Howard Woodcock, Chief Executive of Bibby Offshore, commented:
“We were delighted to welcome Mr Osborne to our new facility in Westhill, Aberdeenshire, and to be chosen as the only stop on the Chancellors visit to the North east.
“As a leading services provider in the Offshore oil and gas industry, we welcome any initiative that promotes investment in this region. We hope this new allowance from the Government will not only encourage exploration, reducing the tax on a portion of company’s profits, but it also supports demanding development projects, creating more jobs and further success for the oil and gas industry.”

About the company

Bibby Offshore is a subsea services provider to the oil & gas industry. The Company has a leading position in the UK North Sea, combined with a growing international presence.

It is headquartered in Aberdeen with regional offices in Newcastle, Liverpool, Singapore, Trinidad and Houston, USA.

www.bibbyoffshore.com

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

5 Tunisian Migrants Die in Shipwreck

At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying

Technology

U.S. Senators Urge Obama to Block Arctic Oil Drilling

A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic,

Seaway to Receive Prestigious OECD Award

The St. Lawrence Seaway Management Corporation (SLSMC) announced today that it will receive a prestigious award from the Organization for Economic Cooperation

Torqeedo Introduces New Deep Blue Inboard

Torqeedo now offers a shaft drive version of its 40 and 80 horsepower Deep Blue motor. An electric drive designed for marine use from the ground up, the Deep Blue inboard shares the safety,

Finance

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

People in the News

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

USCG Assists Sinking Vessel East of Nantucket

The Coast Guard is responding to a fishing boat taking on water 130 miles east of Nantucket, Massachusetts, Saturday. At about 12:45 a.m., the fishing vessel

Government Update

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Alaska, Washington to build Arctic Icebreakers

Senator Lisa Murkowski, Alaska, and Senator Maria Cantwell, Washington, have introduced a bill that would authorize the Navy to build up six icebreakers for use by the U.

Launch of First Future Destroyer, Hobart

Speech delivered by the Minister for Defence, Kevin Andrews during the launch of Hobart - the first future destroyer: Thank you for being here on this very important day.

Offshore Energy

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

Protea to Launch Heavy-Lift Cranes at Nor-Shipping

Protea, a global manufacturer of offshore handling equipment, will launch two types of heavy lift cranes at Nor-Shipping 2015 in Oslo, June 2-5. Tomasz Paszkiewicz,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1606 sec (6 req/sec)