ABSTRACT
The total production of shale oil in Scotland in 1894 was 1.5m tons and the many shale oil producers were eventually amalgamated into Scottish Oils, which became a part of BP. Drilling concessions were awarded in the Netherlands, Denmark and Germany following the discovery of a massive natural gas field off Groningen in 1959. Explorations began in British waters in 1964, in 1965 gas was discovered by BP and Continental Oil, and the following year a Shell-Esso consortium also struck gas. Exploration was organised through the allocation of drilling licences whereby each consortium was granted the right to drill in particular ‘blocks’ of the North Sea. The Scottish financial sector became highly involved in the supply and service sector as well as in exploration, though Scottish industrials were also active in supply and service.
