Umbrella Companies | Will PAYE contractors be drilling for oil in Yorkshire?

Will PAYE contractors be drilling for oil in Yorkshire?

PAYE contractors working in the oil industry could benefit from the decision to let Rathlin Energy drill for oil in Yorkshire.

Rathlin Energy will spend five weeks this year drilling to a depth of about one and a half miles in certain areas between Bishop Burton and Walkington; two villages to the west of Beverley.

Although some local residents objected to the plan, oil companies said it was important to establish whether the area contained any resources and they will be working around the clock throughout the five-week period to ensure they search as much of the region as possible.

David Montagu-Smith, the chairperson of Rathlin Energy UK, said these types of exploration ventures are an essential first stage if we are to discover whether we have natural resources hidden beneath our feet.

Because the drilling is just scheduled to run for a short time, Rathlin Energy is unlikely to hire full time staff and this could open up opportunities for freelancers and umbrella company contractors.

The oil and gas sector is a growing industry in the UK. Last year, about £7.5 billion was invested into oil and gas, and as with any growth industry, there are plenty of good opportunities on offer for talented, experienced contractors.

In addition to the Rathlin project, it is believed that a further £2 billion will be invested in searching for oil in the West of Shetland. Again this project is likely to create short-term positions for contractors this year.

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Image: Drill by Samuel M. Livingston

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