Brian Wilson: "Terrific boost"

Mr Wilson said: "Goldeneye is a terrific boost for the oil and gas industry.

"The Goldeneye venture highlights the continuing development of the United Kingdom Continental Shelf and will be a significant contribution to security of UK gas supplies.

"The tieback carrying reservoir fluids to shore from Goldeneye will be the longest on the UKCS, the same distance as Aberdeen to Dundee."

The minister said about 300 jobs will be created in St Fergus, with more permanent jobs to come.

The development will mean job security for workers at the Fife Natural Gas Liquids plant in Mossmorran.

"There will also be further opportunities for the UK supply chain, as contracts for the three main parts of the project are awarded," said Mr Wilson.

The field has been estimated to hold 500bn cubic feet of gas reserves, and 17m barrels of condensate.

Production is expected to begin towards the end of 2004.