Companies in the UK oil and gas sector could create as many as 39,000 jobs over the next two years according to a survey commissioned by the Bank of Scotland.
Of the 100 company executives questioned, 69% were positive about their growth prospects in 2014/2015.
Bank of Scotland commercial area director, Stuart White, said the findings of the report were “excellent news” for the economy.
“With most of the UK’s oil and gas firms clustered in Aberdeen and the north-east, Scotland should reap the largest share of these new jobs, however other parts of the UK will benefit from expansion plans.”
The report also highlighted long-term issues facing the sector, with 38% of respondents underscoring a shortage of skilled workers as their greatest concern.
Mr White said new specialist apprenticeship schemes could help fill the skills gap.
“The results also demonstrate the global nature of the industry as more firms look to expand internationally and tap into the markets with the largest levels of recoverable reserves,” he explained.
“With 44% of income already generated internationally, this is not a new trend, and reflects the reach UK firms have as the industry benefits from the expertise gained in the challenging North Sea environment.”
The research, which was undertaken by BDRC Continental, focused on a broad range of oil and gas companies taking into account size, location and service type.
Only last year, a similar study suggested companies in the sector were anticipating recruiting an additional 34,000 people over a two year span.
