Oil and gas services firm Smith International (North Sea) Ltd has reported pre-tax losses totalling £8.13 million for the 2015 year to December.

The Sussex-based group, part of oil and gas services giant Schlumberger Oilfield UK Ltd, provides sales, rental and repair services to the oil and gas industries.

The company notes turnover fell 28% to £41.7mas low oil prices continued to hit wider oilfield services activity globally

Oil and gas services firm Smith International (North Sea) Ltd has reported pre-tax losses totalling £8.13 million for the 2015 year to December.

The Sussex-based group, part of oil and gas services giant Schlumberger Oilfield UK Ltd, provides sales, rental and repair services to the oil and gas industries.

The company notes turnover fell 28 per cent to £41.7 million as low oil prices have hit wider oilfield services activity.

The company, which has its main operating base in Dyce, Aberdeen, said employee numbers fell to 171 in the 2015 year, down from 239 in 2014, resulting in a £1.4 million charge for redundancy costs (2014: nil).

Accounts with Companies House show operating losses widened to £6.82 million (2014: £3.74 million loss) though 2014 figures were lifted by a £2.80 million exceptional gain from the sale of an investment.

Including redundancy costs, operating losses totalled £8.22 million (2014: £941,000 loss).