The oil and gas Activity Survey 2015 has concluded that oil and gas contractors in the UK could have a long term future in the North Sea if conditions are made right. The yearly survey published by Oil and Gas UK, has said that if the right conditions are created for further exploration and investment through tax breaks and cost restructuring, oil and gas contractors in the UK needn’t worry about their long term futures.

However, they have also concluded that if the correct action is not taken, oil and gas contractors should start looking elsewhere for work, as the market for their services here will start to diminish.

“This years’ Activity Survey paints a bleak picture but also identifies this regions’ potential, emphasising the importance of government and industry now putting the right measures in place to secure its long-term future,” Oil and Gas UK CEO Malcolm Webb has said.

IPSE Director of Policy, Simon McVicker, believes that investment is key, he has added “The recent fall in oil prices has meant contactors working in this sector have been hit the hardest, suffering rate cuts, reduced hours and terminated contracts on a weekly basis.” He believes that the potential tax breaks will go a long way to boost a hugely important industry which is dominated by contractors.

If you’re an oil and gas contractor and you’re looking for simple accountancy package suited to your needs then here at Gorilla Accounting we can help!

We have listened to feedback from contractors to understand our clients’ needs and create a service specifically designed to assist our clients’ where they need it most.

Accounting and Taxation are the necessary evil of contracting through your own Limited Company and we understand that this isn’t where your skills are best utilised. Appoint Gorilla Accounting and use our team’s knowledge and experience instead.

For more information on exactly what we can do for you, click here.