The new boss of the UK's oil and gas body has warned that
the sector faces a future in which long term oil prices are about $60 a barrel.
Deirdre Michie told a gathering in Aberdeen that the industry
needed to adjust and find a fresh way forward.
Oil prices have fallen from about $115 a barrel
to $63 since last June
The
annual oil and gas industry conference also heard from First Minister Nicola
Sturgeon, who wants no new tax rises for the sector.
Thousands of job losses
have been announced in the industry in recent months, and
thousands more are
expected, despite measures announced in the last Budget designed to help the
industry. A recent survey found contractors' confidence was at a "record
low".
North Sea exploration
reached its lowest level in at least two decades in 2014, with 14 explorations
wells drilled compared with 44 in 2008. (s:@bbcDouglasF)
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