International activity from Scotland’s oil and gas supply chain continued to account for just over half (50.9%) of total sales during the 2015/16 financial year, confirming the continued strong demand across the globe for Scotland’s skills, experience and expertise.
Scottish Enterprise’s annual Survey of International Activity in the Oil and Gas Sector shows that the sector delivered £11.4 billion of international sales, made up of £4.1 billion of direct exports and £7.3 billion of sales via international subsidiaries. The research also reported an increase from 115 to 130 in the number of countries Scotland trades with — and that sales to non oil and gas markets increased to £0.8 billion, over four times the figure in 2012.
Commenting on the results, David Rennie — head of oil and gas at Scottish Enterprise — said: “As we look to grow Scotland’s oil and gas sector, supporting international activity remains a key focus for us. Despite seeing a 7% decline in our overall international activity — a casualty of the global downturn — international activity still accounts for more than half of total supply-chain sales. We’re also seeing increased interest in a number of overseas markets in recent years, such as the Middle East.
“Through the Energy Jobs Taskforce, we have delivered a significant amount of support to companies around key areas such as innovation, diversification, leadership and internationalisation. Helping companies to grow their international activity saw 59 companies join us in May on the Scotland pavilion at OTC 2017 in Houston, one of the world’s largest oil and gas shows. Events like these make a huge difference to companies looking to grow their international presence, helping them showcase their world-renowned skills and experience and build important new contacts.”
Paul Wheelhouse — Scottish Government Minister for Business, Innovation and Energy — added: “With up to 20 billion barrels of oil equivalent estimated to remain in the North Sea basin, Scotland’s oil and gas industry has a bright future for decades to come. Our draft Energy Strategy clearly outlines that we remain committed to maintaining domestic oil and gas exploration and production, and maximising economic recovery.”