A survey by oilandgaspeople.com has found that a large majority of UK oil and gas workers are considering working abroad. The findings come on the back of what has been a hard time for the industry with payoffs and staff cuts globally.
The results of the survey of more than 1000 North Sea Oil and Gas workers shows that over 70% of UK based respondents would consider a move overseas where they believe they will find better job security and conditions with higher wages being cited as a main reason for looking overseas also.
Managing Director of Oil and Gas People, Kevin Forbes, said: “this is bad news for the UK industry which only 6 months ago was reporting a huge skills shortage. We have some of the most experienced and best qualified oil and gas workers globally and we are at risk of losing a huge percentage of them to the International market”
The survey also suggests people working in the UK have little confidence in the ability of tax cuts announced by Chancellor George Osborne in the Budget last month. The cuts were aimed at stimulating investment in the North Sea.
The UK Government's 1.3 billion package of support includes a cut to the supplementary charge on oil industry companies' profits from 30% to 20% and a reduction in petroleum revenue tax from 50% to 35% next year.
Kevin Forbes said: “The industry needs more from the government to stimulate investment. Norway gives exploration companies back up to 78% of their exploration spend. The UK doesn't have an answer for that and ultimately we will lose out as companies shift their focus globally moving our workforce with them.”
Adapted from a press release by David Bizley