HOUSTON, May 6, 2013 /PRNewswire/ -- Scotland's oil and gas supply chain exports rose by 8.4 percent in 2011-12, to $12.7 billion—almost double the rate of the previous year—according to the latest figures from Scottish Development International and the Scottish Council for Development and Industry (SCDI).
The new figures, which are part of the latest annual survey of international activity in the sector, were announced today by Scotland's Minister of Energy, Fergus Ewing, at the Offshore Technology Conference in Houston, Texas, where the Scottish Government is hosting a delegation of over 50 Scottish companies.
According to the survey, international activity accounted for a record 47.6 percent of total sales from the sector, an increase from 31 percent over the past decade. Total oil and gas supply chain sales, which includes sales through subsidiaries, increased by 5.8 percent to reach $26.7 billion, with exports to over 100 markets across the globe.
Commenting on the new figures, Minister 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 almost 50 percent of total sales.
"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 recognizes the substantial contribution that the oil and gas industry makes to our economy. 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."
North America remained the top region for exports with $4 billion of sales targeted into this region, an increase of 2.8 percent, but strongest growth was reported in the Middle East. Africa remained the second most important with a 5.9 percent increase in sales. Brazil, the United States and Australia are reported to be the new markets of greatest interest – with sales in Australia alone increasing by 9.4 percent.
The services sector is also dominant in terms of sales, seeing an increase of 10 percent from last year's survey. The types of services being exported from Scotland include project management, consultancy, construction, maintenance, resource management, software design, drilling, access solutions, catering, logistics/transport, engineering and design.
Danny Cusick, President, Americas, Scottish Development International, said:
"Growing oil and gas export levels is a key priority for Scotland, so we welcome the success demonstrated by these latest figures, particularly at a time when many regional economies have been stagnant. They show that our expertise in oil and gas remains with increasing demand across the globe, and clearly demonstrate the growing importance international markets have to play in the long-term future of the industry in Scotland.
"While other markets such as Brazil, Africa, the Middle East and Australia are increasingly becoming international priorities for Scotland, North America remains by far our top and most important region for exports. Continued investment by oil and gas companies from the U.S. and Canada is crucial to Scotland's long-term economic growth."
Ian Armstrong regional director, Scottish Council for Development and Industry, added:
"The global nature of Scotland's oil and gas supply chain is once again illustrated by this latest set of export figures. The international expertise and success of the industry is built on outward looking and innovative companies based in the North East, Highlands & Islands and other parts of our country, who consistently proved themselves to be world leading in identifying and capitalizing upon business opportunities in oil and gas provinces around the world. As energy expertise in Scotland continues to build across other sectors, SCDI anticipates this trend will continue to benefit Scotland for many decades to come."
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About Scottish Development International
Scottish Development International (SDI) is a government agency which helps overseas businesses tap into Scotland's key strengths in knowledge, high level skills, technology and innovation. SDI also works to help Scottish companies do more business overseas and to promote Scotland as a good place to live and work. Its work is guided by the Scottish Government's strategy for economic development in Scotland. www.sdi.co.uk
About the Scottish Council for Development and Industry
SCDI is an independent membership network which strengthens Scotland's competitiveness by influencing Government policies to encourage sustainable economic prosperity, with offices in Aberdeen, Inverness and Glasgow. Our membership is drawn from Scottish business, trade unions, public agencies, educational institutions, local authorities, voluntary sector and interfaith groups. It has been undertaking research into Scottish exports since 1961.
SOURCE Scottish Development International