Not only do oil and gas fields that remain stranded do little for their current owners, they do little for the local community

Overlooked and ignored, the potential revenue these fields could be generating, the jobs they could be creating, and the economic stimulus they could be providing can easily be lost.

More and more communities are working hard to attract investment and interest, and ensure they reap the full rewards of these valuable resources.

In the United Kingdom's North Sea, there is growing recognition that to maintain growth and ensure the continued economic benefit to the UK of extracting its own energy, it will be vital for Venture and other new companies to step in and focus on smaller fields, particularly as the major companies seek larger fields elsewhere in the world.

Venture has responded. In Aberdeen Scotland, where Venture has based its operations, we are working hard with the government and companies operating in the area to identify stranded assets and breathe new life into those fields. In fact, we were the first new operator to be licensed in the North Sea in more than 20 years, signalling Venture's commitment to the United Kingdom's maturing fields.

Venture's acquisition of CH4 Limited in August 2006 marked our entrance into the Dutch sector of the North Sea and with operations in Hoofddorp (Netherlands), we are diversifying our successful UK North Sea strategy further afield.

In the Local Community, Venture recognises how important ongoing employment and economic growth is to a local community with oil and gas resources. That's why we are committed to hiring locally for key management and staff positions. It doesn't just benefit the community, it benefits Venture. As operators, we need strong local contacts with suppliers, government, and others who understand the industry and the environment. Who better to do this than the very people living in the community?