Oil boom forecast

OIL AND gas industry insiders are predicting an employment boom, with up to 50,000 new jobs to be created in North Sea developments.

Kevin Forbes, chief executive of Oil and Gas People, an industry recruitment agency, said the job boom would benefit new field developments as well as decommissioning.

Norway’s state company Statoil is said to be the largest creator of jobs at its £4.3 billion mariner development, 90 miles east of Shetland, announced only last month.

Other major investments in the area are Total’s Laggan-Tormore, BP’s Clair Ridge and Dana’s Barra and Harris (east of Shetland) investments.

Monday’s job bonanza forecast coincided with news that production at the East Cormorant development has started, with up to 5,500 barrels of oil per day coming to the Sullom Voe terminal.

Meanwhile, Rosyth dockyard operator Babcock said it had secured a £30 million contract from BP to build 74 subsea structures for the Schiehallion and Loyal fields, to the west of Shetland.