On Wednesday PwC issued a report detailing the difficulties facing the UK's oil and gas industry.
The company argues that because of the recent drop in oil prices many British oil and gas firms will need to transform the way they operate.
Brian Campbell, oil and gas capital projects director at PwC and co-author of the report, said:
"With economists predicting low oil prices throughout 2015, UK oil and gas firms are not out of the woods by any means. They are still at risk of an economic triple-whammy: as the falling oil price reduces income, incremental investment may no longer be economic with a risk that field life diminishes and decommissioning is accelerated."
"The stark reality is that firms need to be able to operate in an environment where oil averages at $50 per barrel - only then can it be truly fit for the future."
Also today, Tullow Oil became the latest oil company to see its profits hit by falling crude prices.
As the company reported, there was a $2.05bn full-year pre-tax loss - its first for 15 years - mainly due to a previously-announced asset write-down of $2.2bn. Sales revenues dropped 16% to $2.2bn.
The Africa-focused oil and gas explorer has also scrapped its dividend, says BBC.
