By Claire West

Chancellor George Osborne and Business Secretary Vince Cable will today welcome substantial new investment in the UK as international delegates from the world’s oil and gas companies meet at the British Business Embassy in London.

Up to 4,000 UK jobs will be supported by the GDF SUEZ- operated Cygnus project - the extraction of shallow water gas from an 18 billion cubic metre field under the Southern North Sea — in partnership with Centrica and Bayerngas.
And an International Centre for Advanced Materials created by BP with universities including the University of Manchester will build on the UK’s world leading status in research and development.

Minister for Universities and Science David Willetts said:

“It’s excellent that BP is making such a significant and long-term investment in British science, working closely with leading institutions like the University of Manchester. This new centre will create highly skilled jobs and help cement the UK’s leading position in advanced materials research and its application.”