LISTEN: 65,000 Redundancies in Oil Slump
It's estimated the North Sea crisis has led to more than 65,000 job losses.
Oil and Gas UK say the number of jobs supported by the sector has fallen by fifteen percent since the start of last year.
But they think operating costs will be down by almost a quarter by the end of next year.
Economics Director Mike Tholen has been spoken to Northsound's Roddy Bisset at Offshore Europe: