(MENAFNEditorial) Total international sales from Scotland's Oil & Gas supply chain grew to £10billion in 2012-13, an increase of 22% on the previous year.
New figures released today as part of Scottish Development International's Survey of International Activity in the Oil & Gas Sector show that international activity now accounts for more than half of total Oil & Gas supply chain sales from Scotland, totalling a record 50.2%. By comparison, in 2002 it was 31%.
The companies surveyed also forecast that total export sales would grow by 32% over the next five years.
The latest figures were launched by Energy Minister Fergus Ewing at the Offshore Technology Conference in Houston, Texas where he is leading a trade delegation of 63 companies from Scotland working in the oil & gas services sector.
Welcoming the new figures, Mr Ewing said:
"Scotland has established a global reputation within the oil and gas sector and I am delighted that these latest figures show an increase in international sales, which now account for more than 50 per cent of total sales.
"The value of this activity to the economy and exchequer is substantial. International sales by Scotland's oil and gas supply chain rose by 22 per cent in 2012-13, to £10 billion.
"Scotland is leading the way in the world of oil and gas and has a clear competitive advantage in this truly global industry. There are huge opportunities open to us internationally and we are determined to make the most of them.
"The Scottish Government recognises the substantial contribution that the oil and gas industry makes to our economy. Our objective is to make clear that Scotland's oil and gas wealth is not just the resources that we extract but the expertise that we have built up. We are working with the industry to continue to strengthen Scotland's position as a global leader in the sector and these figures mark further growth in this important part of our economy."
In addition to the overall export figures, key findings include:
• Middle East consistently cited by industry experts as a priority growth market for Scottish oil & gas supply chain sector.
• Other areas of opportunity include: USA, Angola, Australia, Norway, Nigeria, Brazil and Malaysia.
• Contractors operating mainly in the 'wells' sub-sector were most likely to export, with 30% of UK Oil & Gas revenue being generated from export sales in this area. Next was the marine and subsea sub-sector, which reported that around 20% of its revenue was generated from exports.
Mark Hallan, Senior Director, Europe, Middle East and Africa for Scottish Development International, said: "Scotland has built up a global reputation in oil & gas expertise over the past 40 years, and these latest results clearly indicate that our skills and expertise are increasingly in demand across the globe.
"The unparalleled resource of the Middle East means that it is an essential investment and export destination for the Scottish oil & gas sector. And as these results show, Scotland has been actively growing its partnerships with the governments and businesses across the region."
The Aberdeen & Grampian Chamber of Commerce, on behalf of Scottish Enterprise, developed the Survey of International Activity in the Oil & Gas Sector.
In response to the survey findings, James Bream, Research & Policy Director at Aberdeen & Grampian Chamber of Commerce said:
"The findings are great news for the Oil & Gas sector in Scotland and mirror what AGCC members are telling us about the increasingly important role international activity has in their business. The sector is not only an economic driving force domestically with record investment in recent years but is now a critical part of our export driven economy."
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