UK Government to Set Up North Sea Support Group
UK Prime Minister David Cameron is setting up an "oil support group" for the North Sea oil industry, Rigzone can confirm, but details of how the group will look and who will take part are still being worked out.
Early on Friday the Financial Times reported that the group will be chaired by Oliver Letwin, the UK's Minister for Government Policy and will include Fergus Ewing, minister for business, energy and tourism in the Scottish government, as well as Anna Soubry, a business minister at the UK's Department for Business, Innovation and Skills (BIS).
Business Minister Soubry was quoted by the FT as saying the new body will be a "cross-government group".
However, after speaking to sources at BIS and the Department for Energy and Climate Change, Rigzone understands that the structure and composition of the oil support group is still being discussed.
Last year, several oil and gas companies announced hefty cut backs in their North Sea workforces on account of low oil prices. This month saw BP announce it would cut a further 600 North Sea jobs by the end of 2017.
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