Date Created: 30 April 2012
Scotland’s oil and gas supply chain exports rose by 4.5 percent in 2010-11, according to the latest survey of international activity in the sector, published by Scottish Enterprise and the Scottish Council for Development and Industry (SCDI).
International sales for the year stood at £7.6 billion, accounting for a record 46.4 percent of total Scottish supply chain sales.
In 2002, the international share was 31 percent of total sales, indicating that growth in international markets has been driving growth overall.
Total oil and gas supply chain sales from the Scottish market also increased by 2.1 percent, reaching £16.3 billion.
The survey also found that North America remains top for Scotland’s supply chain exports, with £2.6 billion of sales targeted into this region.
Offshore Technology Conference
The news came on the opening day of the Offshore Technology Conference, which over 50 Scottish companies are attending with support from SDI.
The conference, which is attended by 70,000 delegates and 2,000 exhibiting companies from over 110 companies, represents a huge opportunity for Scottish companies to take advantage of business opportunities at a global level.
“These results show the huge importance oil and gas continues to play in Scotland, and in particular how our skills and expertise in this area are in increasing demand worldwide,” said Chief Executive of Scottish Enterprise, Lena Wilson, from the Offshore Technology Conference.
“The continuing challenge will be to capitalise on our strengths and build on Scotland’s international capabilities - both in the oil and gas industry itself and in the application of our expertise in this area in the fast-growing renewables sector. That’s why the Offshore Technology Conference is such a fantastic opportunity for our companies, enabling them to make new contacts and develop new business opportunities with partners from across the globe.”
Scotland's supply chain sales see strong growth
In addition to these figures, sales activity from the Scottish oil and gas supply chain was recorded in 100 different countries.
Strongest regional growth was in the Australasian market followed by the African region. Greatest growth in the major markets was to Canada and Australia, with markets such as Ghana, India, Brazil and Qatar as the new markets of greatest interest.
Latest figures by the International Energy Agency predict a 40 percent rise in global energy demand by 2035.
Over half of the value of the North Sea’s oil and gas reserves is yet to be extracted.
Find out more about the oil and gas sector in Scotland