Around 36 jobs supported by the UK’s oil and gas sector were lost daily last year as it battled falling oil and gas prices and dwindling reserves.
The sector now employs or supports 302,200 roles, compared to 315,400 last year, and around one-third lower than a peak in 2014.
Industry experts warned last night more must be done to save jobs and domestic oil supply.
The UK produced about £17billion of oil and gas last year, or about 60 per cent of the country’s needs.
Oil and Gas UK, the trade association, said: ‘It could threaten core capabilities within the supply chain if activity does not pick up.’
The North Sea oil industry has been hammered by prices slumping more than 60 per cent over the past three years to around $50 per barrel.
Oil and Gas UK said drilling was at record low levels last year – with only 14 exploration wells and eight appraisal wells drilled.
Its warning came as Anglo-Dutch oil major Shell yesterday said it was committed to the UK despite selling assets worth around £2.5billion to Chrysaor last year.