Express.co.uk | Sturgeon independence blow as North Sea oil and gas is 'a DRAIN on British economy' Express.co.uk The report said: “Since the Government passed the Continental Shelf Act in 1964, billions of barrels of oil and gas have been extracted from reserves under the North Sea. “Now, some of the largest fields are coming to the end of their life. The rigs ... North Sea oil and gas sector 'a net drain on UK finances' |