UKCS OIL AND GAS REVENUES HIGHEST SINCE RECORDS BEGAN
This week, Oil & Gas UK reported that companies delivering drilling, completion, testing and maintenance for oil and gas wells generated gross revenues of £1.9bn for the UK in 2012. Revenue rises tally with increasing oil and gas activity on the UK Continental Shelf (UKCS) and are the highest since records began in 1996, according to the ‘Well Services Contractors Report 2013’. Last year the number of technicians employed by well services contractors for North Sea operations increased to 2,200 and the number of graduate engineers increased to 1,700.
According to the Rt Hon Dr Vince Cable, UK Secretary of State for Business, Innovation and Skills, these figures demonstrate the value of the UK’s expertise in the oil and gas sector across the world and the value of the industry in strengthening the UK economy.
Aquaterra Energy’s own growth in the past year supports the picture painted by the Oil & Gas UK report and the value the international market places on our home-grown engineering skills and expertise in international waters.
Patrick Phelan, managing director of Aquaterra Energy, said: “Our company is a shining example of UK industry at its best. We are successfully competing and delivering in a highly competitive international market and, with the government commitment to attracting investment in the supply chain, we believe the industry can only go from strength to strength.”