500 New Jobs as BP Commits to 40 Years in the North Sea
BP delivered a massive jobs boost today along with a commitment to stay in the North Sea sector for the next four decades.
The energy giant has vowed to create 534 jobs with two large-scale projects to the west of Shetland.
The installation of the modules for its Clair Ridge platform and the imminent arrival of the storage vessel Glen Lyon has been hailed as a “once in lifetime” double win for the region.
Combined they are expected to unlock one billion barrels of oil over the next 40 years.
And in a vote of confidence for the struggling industry, BP boss Mark Thomas said: “This is our home”.
“This is where BP has matured and we feel this is our backyard.”
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It is good news for the oil and gas sector which has been driven down by plummeting oil prices over the past two years, leading to fears that the industry could collapse.
More than 65,000 jobs have gone with more redundancies in the pipeline across the sector due to numerous projects being put on hold.
Operators have slashed costs as profit margins have dropped significantly over the past two years.
However, Mr Thomas said BP classed the west of Shetland as a “growth opportunity” and an area the oil and gas firm wanted to invest in.
The new jobs are linked to the hook-up and commissioning of the two projects with the work expected to last 18 months.
