SHADOW Minister for Trade and Industry Bernard Jenkin last night warned of the threat of higher taxes for the offshore industry.

Speaking at the Northern Offshore Federation's (NOF) annual dinner, the MP for North Essex urged members to speak to their local MPs about what damaging effects a tax rise could have.

During his speech at Ramside Hall Hotel, Durham, Mr Jenkin, said: "You will all, no doubt, have seen recent reports that the treasury is considering a windfall profits tax on the UK offshore industry, to be announced in the pre-budget report at the end of this month.

"At the very time that high oil prices are leading to the re-exploration of sectors of the North Sea that haven't been explored for some 20 to 25 years, the Chancellor is tempted to impose yet another tax on the industry in a short-sighted attempt to plug his £10bn black hole in the public finances.

"Forgive me for delivering to you an uncompromising message tonight: complaining after the event is too late.

"If you want to discourage the Chancellor either increasing the supplementary charge on corporation tax, or whatever he plans to do, the time to make a noise about it is now."

At the awards ceremony last night, commercial and contract consultancy firm Stapleton International, of Darlington, was named NOF's company of the year.

The award was presented by Mr Jenkin to honour the company's outstanding achievement within the industry during the year.

Tom Watson, Stapleton's managing director, said: "It is of great significance that Stapleton International accepts this prestigious award when one considers the high calibre of the other organisations that are associated with the Northern Offshore Federation.

"This award reflects the effort of our great employees who have now positioned Stapleton as a global consultancy in a global oil and gas industry."

Other winners included Angus Kimpton, of The Engineering Business Ltd, based in Northumberland (young achiever of the year); Pipeline Engineering and Supply Company Ltd, Richmond, North Yorkshire, ( export achievement award); and Shark Group, Morpeth, Northumberland, (innovation award and training award).