THOUSANDS of offshore workers’ livelihoods were plunged into jeopardy yesterday after oil and gas firm Petrofac called in the administrators.

The company, which designs, builds and operates energy facilities, employs an estimated 7,000 people globally, about 2,000 of them based from its hub in Aberdeen.

It had been undergoing a major financial restructure to secure its long-term future after its value plummeted from a 2012 peak of £6 billion to just £20 million when trading in its shares was suspended in May amid volatile energy prices and the fallout from a Serious Fraud Office investigation.

Those efforts fell apart last week, however, when a major contract with Dutch electricity grid operator TenneT was axed, forcing the firm to apply to the High Court to appoint administrators yesterday.

Stressing that the move will not affect the group’s main holding company, the firm said: “When appointed, administrators will work alongside executive management to preserve value, operational capability and ongoing delivery across the group’s operating and trading entities.”

While the corporate world comes to terms with the move, offshore energy union RMT is urgently seeking clarity on the status of workers caught up in the collapse.

Calling for full protection of all workers pay and entitlements, including any unpaid wages, holiday pay, and redundancy rights, RMT general secretary Eddie Dempsey said: “There must be guarantees put in place for employees, subcontractors, agency staff and self-employed workers.

“The potential loss of these jobs will not only have a serious impact on the workforce, but also on the wider north-east of Scotland community — from supply chain contractors and small service providers to local businesses that heavily rely on incomes from the offshore sector.”