Scottish oil and gas looks to international market

Scottish oil and gas firms are predicted to win contracts worth £100 million over the next 3 years after attending the world's largest oil and gas conference in Houston, USA, according to Scottish Enterprise.

Three Scottish firms attending the Offshore Technology Conference (OTC) have been awarded contracts for operations inside the United States.

The firms are part of a delegation of 63 Scottish companies taking part in the conference with support from Scottish Development International and Scottish Enterprise.

David Rennie, head of oil and gas at Scottish Enterprise, said:

"Increasing international activity in the oil and gas sector is a key priority for us and attending events such as OTC offers us a great platform for doing this. OTC is a world-class event and as popularity grows, so do the benefits of attending.

"As today's figures show, Scottish companies are capitalising on these benefits, capturing the opportunities and reaping the rewards."

Earlier this month, Scottish Enterprise revealed that international sales of Scottish oil and gas supply chain grew to £10 billion in 2012/13, a 22% increase since 2011.

Commenting on the figures, Energy Minister Fergus 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.

"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."