Oil and Gas News
BG Group Confirm Contractor Rate Cuts
BG Group confirmed on Friday, that they are to follow suit with the announcement of contractor rate cutsA staff meeting held in Aberdeen on Friday, confirmed that contractor rates would be cut by an average of 10%BG who employ 230 contractors in Aberdeen held the meeting to discuss the need to improve efficiency, priorities for 2015 and the reduction of contractor rates by an average of 10%The company joins numerous other firms such as BP, Wood Group PSN, Apache and Premier Oil who have all announced reductions in contractor rates over the past months in aid to keep business competitive and help reduce spiralling costsThis was the first move from Ernst den Hartigh the new managing director of Europe E&P as he replaces Andy Samuel who left BG Group to join the Oil and Gas AuthorityErnst den Hartigh said: “This decision was not taken lightly but in the current economic climate is an important step in lowering our cost base and remaining competitive in the future.