If the ayes have it
Yes campaigners. The process of separation from the rest of the UK would take at least 18 months. (PA)
Scottish independence is tentatively scheduled for March 2016 in the event of a yes vote in Thursday’s referendum, but this could be delayed. Governments on both sides of the border would have a lot to negotiate regarding the terms of the divorce, with the process taking place over at least the next 18 months and likely to be acrimonious. During this period, the many questions on how Scotland should manage its finances and assets – not least of them oil and gas – would also have to be answered.
The Scottish National Party (SNP) figures for oil and gas reserve estimates appear to be overly optimistic. The remaining oil reserve estimate used by the SNP is 24 billion barrels of oil equivalent (boe). A more likely figure of 15-16.5 billion boe was released in the run-up to the referendum by Aberdeen-based industry expert Sir Ian Wood.