Scotland’s oil and gas industry continues to flourish and enjoys a reputation for dynamism, drive, vision and innovation. Decades spent recovering oil and gas from the North Sea have enabled Scottish companies to develop expertise of vital importance to the worldwide oil and gas industry.
Oil and Gas production in Scotland
Exploitation of the UK Continental Shelf began in the early-1970s, with oil and gas reserves still some way from being exhausted. Export sales from Scotland are expected to top £5 billion by 2010, making oil and gas easily the country’s largest export sector.
The hostile nature of the North Sea has compelled companies based in Scotland to become smarter and more efficient as they seek to recover increasingly marginal reserves. Such challenges have led to the development of skills and experience that can be deployed across the globe.
Scotland’s Oil and Gas – the future
Although the North Sea remains a province with healthy long-term prospects, supply companies from Scotland have long recognised the importance of the global market.
- Oil and gas businesses based in Scotland are active in more than 40 countries and export to over 80.
- Scotland’s gas fields contain a maximum remaining reserve of 1330 billion cubic metres (bcm).
- Some Scottish oil fields have been discovered relatively recently and are at an early stage of their productive life.
- Recent and future fields are expected to remain productive at least until 2020.
- Research and development into oil and gas-related technology is carried out at world-class research institutions in Scotland.
Oil and Gas investment opportunities in Scotland
A liberal licensing regime, funding opportunities and an extensive skills base are just some of the reasons why your company might consider investing in Scotland’s oil and gas industry. Others include:
- Thousands of students graduating from Scottish universities in science, engineering and technology subjects each year.
- An attractive living environment for expatriates.
- A secure environment for people and businesses.
- Aberdeen’s position as European oil capital and first-choice strategic base for UK and European/Eastern Hemisphere operations.
- Proven expertise in offshore production operations and technologies in harsh environments.
We provide active support for the Scottish energy industry.
If you are looking to invest in the oil and gas sector in Scotland, contact us to find out more about the support we can offer.