Revenues up 3.7 per cent to £15.9 billion
The Scottish oil and gas supply chain posted record revenues of £15.9billion, a new survey has found.
Scottish Enterprise and the Scottish Council for Development and Industry (SCDI), which publish the research, said 2009 sales rose by 3.7 per cent on the previous year.
The survey, called International Activity in the Oil and Gas Sector, shows sales rose overall from £15.4 billion in 2008 to £15.9 billion in 2009.
International sales, which made up 45 per cent of the total, rose more than 10 per cent to £7.2billion, made up of subsidiary company sales totalling £4.7 billion and £2.5 billion in direct exports.
Sales to North America made up the bulk though Africa also showed strong growth along with Norway and Australia.
Scottish oil and gas supply sales now stretch into more than 100 different countries globally.
Overall UK sales, which remains the largest supply chain market, stood at £8.7 billion which was down slightly on the £8.8 billion posted in 2008.
David Rennie, director of oil and gas at Scottish Enterprise, said: "The results from this latest survey clearly demonstrate the continued value and importance of the oil and gas sector to the Scottish economy.
The Scottish oil and gas supply chain has a truly international reach and these results show that overseas sales accounted for almost half of total sales from the sector.
"The welcome trend in international sales is built on a strong domestic market. The North Sea remains vital to the Scottish economy, both in its own right and also in helping to develop international opportunities."
SCDI has been compiling research into Scottish exports since 1961, and has compiled the annual supply chain survey of more than 200 companies on varying sizes since 1997.
Its north east manager Ian Armstrong, said: "During the economic slowdown, the sector took a less knee jerk approach than in the past to retaining skills, and it is now better positioned for the upturn in activity.
"Going forward, the industry and Government are working to ensure that its growing skills needs can be met, and that young people and those moving from other industries are able to access opportunities.
"The slight dip in domestic sales recorded, shows the sensitivity of activity in the mature North Sea basin to uncertainty and changes in profitability.
"While investment is forecast to increase, this underlines the risks of recent tax increases, and it must be hoped that appropriate incentives and regulators are now agreed to mitigate against the potential economic damage."
A recent report published by industry body, Oil and Gas UK suggests around 60 of a potential 240 North Sea projects may not go ahead as a result of the tax take announced in the Chancellors budget.
Chancellor George Osborne raised the supplementary tax on North Sea oil production from 20 per cent to 32 per cent.
Oil and Gas UK suggest the projects which will be shelved account for £22billion in investment and the UK could lose out on 15,000 new jobs.