OFFSHORE INDUSTRY SKILLS BASE

That this House is deeply concerned by the loss of jobs, skills, investment and employment rights in the North Sea oil and gas industry and supply chain resulting from falling oil prices since July 2014; notes that over 65,000 jobs have been lost in the industry and supply chain, along with forecast losses of over £12 billion in capital investment by 2018; is alarmed by the imposition of redundancies, shift increases and severe cuts to pay and contractual terms and conditions; further notes that these changes will mean offshore staff will be working 300 hours per year more in a major hazard environment on installations that have had staffing levels reduced by an average of 20 per cent, and where the backlog of safety-critical maintenance work is growing; notes that dividends for private shareholders in North Sea oil and gas companies are forecast to grow by over five per cent in 2015; is dismayed that the Government's draft strategy for maximising economic recovery of North Sea reserves neglects the domestic skills base, including in the growing decommissioning sector, in favour of the profitability of multi-national oil and gas companies; believes that the commercial regulator, the Oil and Gas Authority, should have powers to protect the skills base, both in the UK offshore industry and the supply chain; and calls on the Government to use the Autumn Statement to create a stronger link between the national economic interests and the skills base in the North Sea.