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Sales soar in gas and oil service industries

International sales from companies serving the oil and gas sector grew by more than a fifth to reach £10 billion in 2012-13, a new report has revealed.

Overseas sales from companies providing goods and services to the sector increased by 22%, according to new figures from Scottish Enterprise.

Meanwhile, total oil and gas supply chain sales from Scotland amounted to £19.9 billion in 2012-13, a rise of 15.4% on the previous year.

That meant that international deals accounted for just over half (50.2%) of all sales from the sector, up from 47.6% in 2011-12.

Energy Minister Fergus Ewing announced the new figures at the Offshore Technology Conference in Houston, Texas, where he is heading up a delegation of more than 60 Scottish oil and gas services companies.

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% of total sales.

"The value of this activity to the economy and exchequer is substantial. International sales by Scotland's oil and gas supply chain rose by 22% in 2012-13, to £10 billion."

The figures are contained in the first international oil and gas survey, which was undertaken by Scottish Enterprise together with Aberdeen and Grampian Chamber of Commerce (AGCC).

The research also forecast export sales from the Scottish oil and gas supply chain sector could grow by 32% over the next five years, with domestic sales predicted to increase by 18%.

James Bream, research and policy director at AGCC, said: "The findings are great news for the oil and gas sector in Scotland and mirror what AGCC members are telling us about the increasingly important role international activity has in their business. The sector is not only an economic driving force domestically with record investment in recent years but is now a critical part of our export driven economy."

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