Innovation Drives 8.3% Annual Growth in Scottish Oil and Gas Industry Despite Global Economic Challenges

HOUSTON, April 28 /PRNewswire/ -- The Scottish oil and gas industry generated a record 15.4 billion pounds sterling in sales in 2008-2009, an 8.3 percent increase from 2007-2008, according to a new report from Scottish Enterprise and Scottish Council for Development and Industry (SCDI). The Survey of International Activity in the Oil and Gas Sector outlines major growth in international sales activity from the oil and gas supply chain, which accounted for 42.6 percent of the total Scottish supply chain sales in 2008-2009.

This international growth is also reflected in continuing development in the North Sea which is expanding further into the frontier developments on the Atlantic margins West of Shetland region.  DONG Energy announced in March that is has partnered with TOTAL to develop the Laggan and Tormore gas fields in the West of Shetland region. The fields, which will begin producing gas in 2014, have estimated total recoverable gas reserves of 28 billion standard cubic meters and an expected peak production rate of 14 million standard cubic meters per day.  Also in the West of Shetland area, Dana Petroleum a leading British independent company has drilled its first well in the Tornado prospect, discovering gas and oil in Tertiary reservoir sandstone.

"The Scottish oil and gas industry was able to demonstrate solid growth in a year of unprecedented turbulence for the industry and the global economy, despite the challenging and ever-changing conditions in the North Sea," said Alan McIntyre, Director of Trade and Investment (Energy) at Scottish Development International. "Scotland's oil and gas industry has shown resilience and the ability to drive growth through innovation, allowing it to thrive even in tough economic circumstances."

Thirty-eight of Scotland's most innovative oil and gas companies and organizations will showcase award-winning technologies and business strategies at the Offshore Technology Conference (OTC) from May 3-6 in Houston, Texas. Among these companies are OTC Spotlight Award winner WFS Energy & Environment, ASME (Woelfel) Award finalist Nautilus Rigging, and Scottish Offshore Achievement Award Winner ACE Winches.  

Companies and Organizations on the Scottish Pavilion (stand 2465) will demonstrate innovative technologies in key areas including high pressure and high temperature reservoirs, downhole and drilling technologies for mature fields, subsea technologies and engineering, production optimization, asset integrity and decommissioning.  

"OTC gives us a great opportunity to showcase the vast skills base and innovative technologies that Scottish companies have developed from working successfully in the harsh conditions of the North Sea," said Danny Cusick, President, Americas, Scottish Development International. "With unparalleled access to a strong services sector and powerful academic, industry and government collaboration, Scotland and Scottish companies are an even more attractive investment in this new economic context."  

Other Scottish companies and organizations attending OTC this year are: Aberdeen City Council, Aberdeenshire Council, AVC Media Enterprises, Caledyne Ltd., Chalmit Lighting, Cutting Underwater Technologies Ltd., Decom North Sea, Deep Casing Tools, EV Offshore, Ferguson Modular, Global Pipe Components, GlobalScot, ICL Tech Ltd., Infratil Airports Limited, Industry Technology Facilitator (ITF), LA Recruitment Ltd., McGeoch Marine Ltd. (MML), National Subsea Research Institute, North Scotland Industries Group, Offshore Marine Technology, Opito, Opus Plus, Port Services, Roemex Ltd., Rotech Subsea, Roustabout Publications Ltd., Rubberatkins, SECC Oil & Gas Ltd., Steel Supplies, Swagelining, TalentScotland, Tube Developments Ltd., TWMA Ltd., The Underwater Centre, University of Aberdeen, Bryant Engineering, OMB Offshore and Bluegrass Offshore.

For further information or interviews with representatives from Scottish Development International, Scottish Enterprise, or Scottish companies attending the show, please contact Amanda Keane 617-520-7260 or [email protected].  

SOURCE Scottish Development International