A new Taskforce is being established by New Anglia Local Enterprise Partnership to support businesses and employees who are being affected by the current downturn in the oil and gas sector.

 

The drop in the global oil price has caused a reduction in exploration activity and investment by major oil companies, especially in the North Sea. This has caused a number of businesses in Great Yarmouth and Lowestoft to experience difficulties – with a number of staff being made redundant.

 

The new Taskforce will bring together key stakeholders from central and local government and MPs together with representatives from the industry to co-ordinate support for businesses and individuals affected.  This will include advice on grants and other funding, support to help businesses export and find new markets as well as assistance for those made redundant. The group will also develop a long-term strategy for the sector.

 

Mark Pendlington, chairman of New Anglia LEP said: “The oil and gas industry in Great Yarmouth and Lowestoft is vitally important to our economy. I have asked Mark Goodall, with his industry knowledge and expertise, to chair this Taskforce looking at how we can best support businesses and retain their talented and highly skilled workforce.”

 

The Taskforce has already gained the support of Energy Minister Andrea Leadsom MP, who offered her support and to meet the group in response to a question in the House of Commons from Peter Aldous MP.

Peter Aldous MP for Waveney said: “The oil and gas industry in the North Sea faces very challenging times and it is very important to the East Anglian economy. It is therefore great news that the New Anglia Local Enterprise Partnership is creating an Oil and Gas Taskforce to support the industry during these difficult times. I welcome the Minister’s assurances that the Department for Energy is Climate Change is happy to play a role in Taskforce alongside Brandon Lewis and myself, and I look forward to meeting up with him to discuss this further.”

 

Brandon Lewis MP for Great Yarmouth said: “I fully support the working group, and will work with them to ensure we continue to do all we can locally to deliver on the growth opportunities for our area and to make sure we do all we can to support those who have seen their employment at risk by the company failures we have seen over the last couple of weeks.”

 

The group is due to meet in the coming days and will report back to the LEP board meeting in July.