Scottish Oil and Gas to Create 34k Jobs

More than 34,000 jobs will be created in the oil and gas sector in Scotland over the next two years, according to a major report looking at the future on the industry.

The study found that Scottish oil and gas firms are more likely to expect growth than those south of the Border – with 83 per cent expecting to see more business.

Scottish firms were more “expansionist” than English companies, it said, and were more likely to embrace diversification.

Lloyds Banking Group, which published the report, entitled Oil & Gas: Rising Fortunes 2, claimed this growth would translate to more than 34,000 jobs when applied to the entire sector and related businesses.

The survey found 21 per cent of English firms were interested in diversification, compared with 39 per cent in Scotland.

The report says 33 per cent of firms asked about the future believe a shortage of skills was the biggest challenge they face.

In response, half of firms said they wanted to train existing staff, a quarter wanted to work with universities and 23 per cent said they were looking to apprenticeship schemes.READ MORE