Hamilton has estimated that these two projects and the offshore development will create some 3,000 construction jobs and over 200 permanent jobs.

An agreement on the Norwegian-Russian maritime border opens the way for investment in offshore development, which would have otherwise been commercially unthinkable.

Given the rapid growth of this sector, several companies have started to use offshore development in China, India and other countries with a lower cost per developer model.

Over the last decade, Shell has been a pioneer in offshore development and has taken steps leading toward yesterday's announcement.

Mr. Panetta said the plan ignored the "balanced approach" to offshore development mandated by Congress.

He said the report was a major attack on the commission's authority to control the environmental impact of offshore development and protect the state's coastline.

Coastal states, environmentalists, fishermen and others whose livelihood was affected complained that such huge offshore development posed a grave threat to the marine environment.

It should advocate consultation and active information seeking by local authorities whenever they are concerned with coastal and offshore developments.

It is therefore beneficial for these countries to offshore development.

Markham is the first offshore development lying across the UK/Netherlands median line.