Energy Secretary Ed Davey said the oil and gas industry is a vital strategic resource.
"With our support for carbon capture and storage, for decommissioning and by encouraging increased collaboration across different energy sectors, especially offshore, there will also be new sustainable growth opportunities for the industry and the wider UK supply chain."
More top news
A mild start to the Christmas week across many parts of the UK, rain spreading southwards over the next few days.
A multi-feature 'drinking jacket' is to go into production after its crowdfunding project raised almost 10 times its target amount.
Ukip leader fails to see the humour in a phone app created by teenagers which pokes fun at him and his party's views on immigrants.