Established by First Minister Nicola Sturgeon in January 2015, the group has provided targeted help to 800 companies in the industry, as well as helping 4,200 people facing redundancy.
Under the taskforce's guidance, oil and gas innovation spend almost trebled last year, with £15.9 million of Scottish Enterprise support for 82 companies to deliver 111 projects.
The group's work will now be taken forward by the Oil and Gas Industry Leadership Group, co-chaired by Energy Minister Paul Wheelhouse.
The news comes as figures reveal oil and gas production in Scotland has risen by 2.9% between 2015-16 and 2016-17. In addition, approximate sales value increased by 15.2%, and production accounted for 82% of the UK total.
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Speaking during a meeting to Tullos Training where she met engineering apprentices undergoing training, First Minister Nicola Sturgeon said: "The Energy Jobs Taskforce has been a catalyst for culture change, ensuring companies innovate and remain competitive while helping thousands of individuals. It has made a vital contribution to strengthening the oil and gas sector, laying the foundation for a positive future for the North Sea economy.
"With employment levels beginning to stabilise, the signs of improvement are encouraging. However, I fully appreciate that challenges remain and we will continue to work with industry to ensure the recovery is sustained."
Lena Wilson, chair of the taskforce and Chief Executive Officer of Scottish Enterprise, said: "Scotland's oil and gas sector has been on a significant journey and, while there's still work to do, the taskforce itself has met its original objectives.
"The time is right for the work of the taskforce to become mainstream business for the various organisations involved and Scottish Enterprise will continue to work closely with the sector to help it respond to challenges and opportunities ahead."
(LM)
