UK Oil, Gas Sector Must Be 'Sustainable' at $60 per Barrel

In a clear reference to the ongoing dispute between offshore contractors and the Unite and GMB unions, Michie said:

"We must work together to secure the future of this industry – for this country. There is a role for everyone – client, customer, employer and employee.  For unions, for governments, for regulators and for trade associations.  This is not a time for conflict or entrenched positions."

Michie's speech comes less than a week after a survey by the Aberdeen & Grampian Chamber of Commerce showed that oil and gas operators and contractors are much less confident about their activities on the UK Continental Shelf than they were a year ago. The AGCC's 22nd Oil and Gas Survey found that two-thirds of North Sea operators have been forced to cancel projects due to the fall in the price of oil.

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