NORTH Sea oil production could end within years, with the loss of thousands of jobs, unless emergency measures are taken to boost the industry, it is being warned.
Unite said the downturn in the sector, with firms reporting heavy losses, is leading to job cuts being made “too deep and too fast”.
The union said more than 70,000 oil-related jobs have been lost since the oil price slump started a year ago, with “grim forecasts” that as many as 200,000 more could be cut.
Unite Scottish secretary Pat Rafferty said: “The impact on jobs and skills for the UK oil and gas sector due to these staggering profit losses could be disastrous unless the Government steps in now with significant interventions.
“Emergency tax measures should be implemented as soon as possible by the Chancellor so we can sustain jobs and skills as best as we possibly can, giving North Sea oil and gas production a fighting chance for the future.
“Left unchecked, these losses will cascade on to offshore contractors and UK supply chains with inevitable consequences, potentially taking us beyond the point of no return.”
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