Scottish oil & gas firms’ global sales reach Ł10bn in 2012-13

Scottish oil & gas companies' international sales rose by more than a fifth year-on-year to reach ?10 billion in fiscal year of 2012-13, Energy Minister Fergus Ewing announced.

Announcing latest data from Scottish Enterprise at the Offshore Technology Conference in Houston, Texas, Mr. Ewing said international sales from companies offering goods and services to the sector jumped 22 per cent to ?10 billion in 2012-13, while total oil & gas supply sales from Scottish companies jumped 15.4 per cent to ?19.9 billion in the same year.

As per the above mentioned figures, overseas sales accounted for more than half (50.2 per cent) of total sales from the sector. In the fiscal year of 2011-12, overseas sales accounted for less than half (47.6 per cent) of total sales.

Commenting on the figures, he 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."

Overseas and domestic sales from the Scottish oil & gas companies are expected to grow 32 per cent and 18 per cent, respectively, over the next five years.

The data was gathered by Scottish Enterprise in partnership with Aberdeen & Grampian Chamber of Commerce (AGCC). At the Offshore Technology Conference in Texas, Mr. Ewing is heading up a delegation of over sixty Scottish oil & gas services companies.