Offshore firms `at risk’

The most significant move over the past five years to cut North Sea costs could end up stifling the investment in technology and innovation that will be vital to sustaining the industry in the longer term, warned the Offshore Contractors Association last week. Trevor Eden, the outgoing OCA chairman, said the move by oil companies […]

The most significant move over the past five years to cut North Sea costs could end up stifling the investment in technology and innovation that will be vital to sustaining the industry in the longer term, warned the Offshore Contractors Association last week.

Trevor Eden, the outgoing OCA chairman, said the move by oil companies to increase delegation of responsibility to large contractors was depriving the smaller end of the offshore supply industry of funds to develop technologies.