14th year of growth for Scots oil services exports

2
Have your say

EXPORTS from the Scottish service sector around the oil and gas industry have grown for a 14th year in a row and are now worth £8.2 billion, according to a survey.

Fields such as offshore equipment, construction and drilling account for almost half of sales in the sector, figures from a Scottish Enterprise and Scottish Council for Development and Industry study of the financial year 2011-12 show.

The US remains the main region for international sales at £2.6bn, but the strongest growth from the previous year’s figures is in the Middle East and Africa.

The figures were welcomed by energy minister Fergus Ewing prior to a trip to the Offshore Technology Conference in Houston, Texas, where he will lead a trade delegation of more than 50 Scottish ­companies.

He said: “Scotland has established a global reputation within the oil and gas sector, and I am delighted that these latest figures show an increase in international sales, which now account for almost 50 per cent of total sales.

“The value of this activity to the economy and exchequer is substantial. International sales by Scotland’s oil and gas supply chain rose by 8.4 per cent in 2011-12, to £8.2bn – almost double the growth from the previous year.”

UK and Scottish Government ministers have said they will support the supply chain to “maximise economic production”, and Malcolm Webb, chief executive of industry body Oil and Gas UK, last month predicted an upturn in oil field production next year which will boost the sector further.

The industry supports around 200,000 jobs in Scotland and there are up to 24 billion barrels of oil still to be recovered in the North Sea, according to the Scottish Government.

David Rennie, Scottish Enterprise’s international head of oil and gas, said growing export levels in the service sector is a priority.

“These latest figures show that our expertise in oil and gas is in increasing demand across the globe, and clearly demonstrate the growing importance international markets have to play in the long-term future of the industry in Scotland.

“We’ll continue to work closely with companies across the oil and gas supply chain to help identify new opportunities for growth at a global level, particularly in our priority markets such as West Africa, the Middle East,
Australia and Brazil.” EXPORTS from the Scottish service sector around the oil and gas industry have grown for a 14th year in a row and are now worth £8.2 billion, according to a survey.

Fields such as offshore equipment, construction and drilling account for almost half of sales in the sector, figures from a Scottish Enterprise and Scottish Council for Development and Industry study of the financial year 2011-12 show.

The US remains the main region for international sales at £2.6bn, but the strongest growth from the previous year’s figures is in the Middle East and Africa.

The figures were welcomed by energy minister Fergus Ewing prior to a trip to the Offshore Technology Conference in Houston, Texas, where he will lead a trade delegation of more than 50 Scottish ­companies.

He said: “Scotland has established a global reputation within the oil and gas sector, and I am delighted that these latest figures show an increase in international sales, which now account for almost 50 per cent of total sales.

“The value of this activity to the economy and exchequer is substantial. International sales by Scotland’s oil and gas supply chain rose by 8.4 per cent in 2011-12, to £8.2bn – almost double the growth from the previous year.”

UK and Scottish Government ministers have said they will support the supply chain to “maximise economic production”, and Malcolm Webb, chief executive of industry body Oil and Gas UK, last month predicted an upturn in oil field production next year which will boost the sector further.

The industry supports around 200,000 jobs in Scotland and there are up to 24 billion barrels of oil still to be recovered in the North Sea, according to the ScottishGovernment.

David Rennie, Scottish Enterprise’s international head of oil and gas, said growing export levels in the service sector is a priority.

“These latest figures show that our expertise in oil and gas is in increasing demand across the globe, and clearly demonstrate the growing importance international markets have to play in the long-term future of the industry in Scotland.

“We’ll continue to work closely with companies across the oil and gas supply chain to help identify new opportunities for growth at a global level, particularly in our priority markets such as West Africa, the Middle East,
Australia and Brazil.”

Back to the top of the page