OIL and gas firms could create up to 34,000 jobs in the UK over the next two years but many are concerned skills shortages could limit their growth amid a "war for talent".
The findings of research for Lloyds Banking Group will boost expectations of a jobs bonanza in the oil and gas industry as firms look to ramp up activity in the North Sea and overseas to meet booming demand for energy in areas like China.
The expansion plans look set to result in surging demand for highly skilled workers in areas like offshore engineering.
Scotland could be a big beneficiary of the expected growth as oil and gas firms increase activity in the North Sea and export expertise developed in the area to overseas growth markets like the Middle East and Africa.
Stuart White, area director of Lloyds Bank Commercial Banking North of Scotland, said: "This is good news for the UK economy and north-east Scotland, in particular, where there is a concentration of oil and gas companies. However, the spread of these firms throughout the UK means all parts of the country should reap the benefits of these 34,000 new jobs."
Lloyds Bank said around one in five respondents were interested in diversifying into unconventional oil and gas, including the controversial process of fracking to release hydrocarbons from shale deposits.
A series of upbeat surveys have boosted hopes the oil and gas industry could provide a significant boost to growth in the UK despite challenging global economic conditions.
Last week, trade body Oil & Gas UK said firms were planning investments totalling around £100 billion on the UK Continental Shelf. It predicted investment in the UKCS will rise to a record £13bn in 2013, from £11.4bn in 2012.
But the findings of the survey by Lloyds will reinforce longstanding concerns about skills shortages in the industry, which employs around 440,000 people in the UK.
Lloyds said: "The sector remains fully engaged in a war for talent."
One-third of respondents named a shortage of skills as the biggest challenge they will face in the next two years.
Mr White noted action is being taken to address the shortfall, for example partnerships between higher education bodies and new apprenticeship schemes. But he added: "This is a long-term solution and will take time to alleviate the current pressure."
Researchers for Lloyds interviewed a representative sample of 100 UK businesses between January 22 and February 4, 2013. Lloyds said the 100 companies surveyed have committed to creating 5000 jobs.
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