A report by BDRC Continental for the Bank of Scotland says that the oil and gas industry expects to create around 39,000 new jobs in the UK over the next two years.
The bank’s annual survey of 100 UK oil and gas companies reveals that 69% of UK oil and gas executives are confident about their companies’ growth prospects for 2014-2015, while almost half of exploration and production companies are planning further growth in foreign markets in the next 24 months.
International expansion is a priority for 64% of the surveyed companies. The survey also found that 38% of them see a skill shortage as the greatest challenge they will face over the next two years, up from 33% last year.
Maureen Watt, a member of the Scottish Executive, said: “These findings showing that a jobs boom is predicted for the oil and gas sector in Scotland represent a major vote of confidence in the value of Scotland’s vast natural assets.”