Oil Workers 'Worried By Price Fall'

More than two-thirds of oil workers are concerned about the impact of falling prices on the future of the sector, a survey has found.

Industry website Rigzone found in December that 68% of workers are worried about the potential impact to the long-term development of deep-sea offshore projects as the price of a barrel of Brent crude fell to about 60 US dollars (£39).

Since the survey was carried out, the price has fallen to around 50 US dollars (£32) per barrel amid concerns that the industry is facing a crisis.

Rigzone surveyed almost 400 oil and gas professionals working in Scotland and the North Sea between December 9 and 19.

It found that, despite concerns about the future, almost 20% of respondents were confident about their own career prospects in the North Sea region in 2015 while almost 38% rated their confidence as middling and above''.

A further 32% rated their confidence as below middling'' while about one in ten are not confident at all.

The main reason for hesitance or lack of confidence was falling prices having an indirect impact on jobs.

Those surveyed were also asked about the independence referendum and the oil industry.

When asked if the political debate in the run-up to last year's vote had in any way impacted oil career prospects in the North Sea region, 36% believed it had impacted negatively, with only 9% stating it had impacted positively.

A further 35% said it had no impact at all, with around 20% undecided.

Bob Melk, president of Rigzone, said: In spite of the fall in oil prices and political debates about the long-term revenue potential of the Continental Shelf, the majority of oil and gas professionals still appear to be confident about their career prospects in the region, both in the near and long-term.

However, for oil and gas companies to continue attracting top talent to the region they will need to continue offering generous compensation packages and incentives.

It would also appear that there is work to be done by the political parties in Holyrood and Westminster to reassure the industry about their long-term commitment to North Sea exploration following last year's referendum.''