Scots oil and gas firms set for contracts boost

Oil and gas firms from Scotland are being forecast to win contracts worth more than £100 million over the next three years as a result of taking part in a leading industry conference in the United States.

Picture: HeMedia

Scottish Enterprise said that attendance at the Offshore Technology Conference (OTC), which is being held in Houston, Texas, this week, could potentially net this amount of business for firms.

It based the forecast on the increased international revenues from companies who took part in the same event last year.

More than 100,000 people from 40 countries are expected to attend this year’s conference, with the Scottish delegation made up of 63 companies, including a number which supply goods and services to the oil and gas sector.

Energy Minister Fergus Ewing said the event was a “shop window for Scottish companies seeking to promote their products and services”.

He said the conference “offers the ideal forum for showcasing skills and expertise to a global audience” and added: “As these forecasts from Scottish Enterprise suggest, Scottish companies are increasingly successful in securing major opportunities in the offshore supply chain and lucrative contracts.

“Scotland has built a global reputation with many creative and innovative companies capable of identifying growth opportunities in overseas markets and making a significant contribution to such business for many years to come.”

David Rennie, the head of oil and gas at Scottish Enterprise, said: “Increasing international activity in the oil and gas sector is a key priority for us and attending events such as OTC offers us a great platform for doing this. OTC is a world-class event and as popularity grows, so do the benefits of attending.

“Scottish companies are capitalising on these benefits, capturing the opportunities and reaping the rewards.”