ECONOMIC REPORT 2013
50
Many of these actions are underway, each
being led by more than one council champion.
As part of the council’s work, the government
has agreed to consider its role in improving
the public’s perception of the industry. A pilot
project, ‘Energising the Nation’s Future’,
10
has been initiated by Oil & Gas UK to raise
awareness of the industry and the positive
case studies from the sector. Other actions
underway include co-operative work by
government and industry to help stimulate
student demand for engineering careers
and mapping of the work carried out by
BIS to address the uptake of STEM
(Science, Technology, Engineering, and
Mathematics) subjects.
All actions arising from both the Scottish and
British strategies are in place to help work
towards the ultimate goal of maximising
economic recovery of oil and gas from the UKCS.
Ernst & Young’s Oil Field Services Report 2012
Thesupplychainsupportstheindustryacrossall
its requirements, from the seismic acquisition
of reservoir data, through exploration and
appraisal drilling, field developments and
production operations, to decommissioning
at the end of field life. According to
Ernst & Young’s
2012 Oil Field Services Report
11
for the UK, the combined activity of 390
companies generated £27 billion of revenues
in 2011 for their goods and services; this was
17 per cent more than the previous year.
In terms of jobs, these companies provided
direct employment for almost 93,000 people
in 2011, a seven per cent increase on 2010,
reflecting the increased activity in the industry
and its supply chain.
Figure 34 suggests that revenues have risen
steadily since data were first collected in 2008.
10
See
Figure 34: Profits and Revenues for the Supply Chain
Profits
Revenues
Costs
2%
-
-
fi
s
t
15% 17%
-21%
-16%
27%
2009
2009
2010
2010
2011
2011
11
Ernst & Young only include companies where at least 50 per cent of their turnover is in the oil and gas sector, are UK registered and have annual
revenues exceeding £10 million. E&Y identified another 720 companies involved in the sector, but with annual revenues of less than £10 million.
Source: Ernst & Young
