A recent survey from the Grampian Chamber of Commerce has shown concern amongst contracting companies at the parlous state of the oil and gas industry. Of particular concern was the news that over 60% of the operators approached by the survey had themselves cut projects due to tumbling oil prices.
Umbrella’s Jessica Evans offered these thoughts on the survey’s findings: “There is undoubtedly growing concern that oil prices have effectively shocked UK oil & gas. When you hear about the impacts on exploratory contracting – with something like 70% of respondents experiencing falls in project values – then you can get a view of how widespread the downturn has been.”
