THE chief executive of Oil & Gas UK, Deirdre Michie, has said North Sea firms will continue to curb activity and cut costs in response to the crude price fall. However, Ms Michie said firms also understood the need to develop new and more efficient ways of working. Opening a conference held in Aberdeen to encourage co-operation in the sector, Ms Michie said: “Stopping activity and cost cutting have been and continue to be levers that get pulled as companies try to manage their way through these times. But we can also see a really positive momentum building in terms of seeking sustainable improvements in efficiency.”