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
Another cold night across Britain with temperatures closely dipping below freezing in rural areas in the north.
Investigative journalist Sue Lloyd-Roberts, who worked at both ITN and BBC News, has died after a battle with leukaemia.
A man found his wife of four months dead near her overturned car after he went looking for her when she didn't return home.