Sharp rise in oil and gas deals predicted

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Scottish oil and gas firms are forecast to secure contracts worth £100 million over the next three years following attendance at the world’s top oil and gas show.

According to Scottish Enterprise, companies who participated in the Offshore Technology Conference in Houston in 2013, reported increased international revenues of this amount.

This year, more than 100,000 people from 40 countries across the world are expected to attend the 2014 Offshore Technology Conference, which takes place in the US oil capital this week.

The Scottish delegation, supported by Scottish Development International and Scottish Enterprise, includes 63 companies and organisations representing a cross section of the Scottish oil & gas and offshore renewables supply chain.

Speaking from Houston, Energy Minister Fergus Ewing said:

“The Offshore Technology Conference acts as a shop window for Scottish companies seeking to promote their products and services. It offers the ideal forum for showcasing skills and expertise to a global audience.

“As these forecasts from Scottish Enterprise suggest, Scottish companies are increasingly successful in securing major opportunities in the offshore supply chain and lucrative contracts.

“Scotland has built a global reputation with many creative and innovative companies capable of identifying growth opportunities in overseas markets and making a significant contribution to such business for many years to come.”

Head of oil and gas at Scottish Enterprise, David Rennie 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.”