Amec Foster Wheeler to reduce rates for contractors
Oil firm Amec Foster Wheeler are to reduce their rates to offshore and onshore contractors
Oil firm Amec Foster Wheeler are to reduce their rates to offshore and onshore contractors.
The company made the announcement this morning, saying that they would be cutting it by 7.5%.
Alan Johnstone, Amec Foster Wheeler’s Managing Director for Upstream Asset Solutions, said: “The industry continues to face challenging times and after much consideration, we have taken the difficult decision to reduce contractor rates. We are determined to keep our business and the industry sustainable for the long term and this is just one of many measures to address cost and efficiency. We are committed to continually improving the way we work and our cost base so we can offer our customers cost effective services whilst strengthening the UKCS as an attractive long term market for the future.”
It comes as the price of oil contines to sit below $30 a barrel.