Calling on the UK government to intervene, Offshore Energies UK, OEUK, has released a letter addressed to MP Chris McDonald, Minister for Industry, calling for the government to work with the industry and implement a permanent tax regime from 2026.

The letter is co-signed by more than 110 companies as the OEUK says the tax on investment and jobs is being felt by the entire sector.

They say this includes operations and maintenance companies, catering firms, and specialist high tech manufacturers from Shetland and Orkney, Inverness and Grangemouth, to Humberside and Teesside, East Anglia and the North West, and Cornwall.

The letter says the multi-revenue approach oil and gas companies operate on is ‘essential to the success’ of companies throughout the transition to renewables.

It says: ‘Hundreds of companies at the heart of UK PLC operate a multi-revenue approach, progressing oil and gas, decommissioning and renewable opportunities in tandem.

‘This is not a coincidence, and this business model is essential to the commercial and economic success of companies throughout the transition. Allowing us to maintain 200,000 jobs in the UK, including 90,000 in Scotland.’

The OEUK says that without a permanent replacement for the temporary Energy Profits Levy, EPL, the nation risks losing thousands more jobs, billions in investment, and critical supply chain capability essential for the …