Industry Analysis & Industry Trends
Over 30 drilling rigs are operating in the United Kingdom continental shelf (the United Kingdom's portion of the North Sea) in second half of 2011. The Petroleum and Natural Gas Support Activities industry is expected to generate revenue of £6.47 billion in 2011-12, compared with £4.94 billion five years earlier, yielding average annual growth of 5.5%. Despite extremely difficult conditions in 2009 when oil prices plunged and drilling activity slowed, generally higher oil and gas prices over the five years to 2011-12 allowed firms to increase their charges. Industry revenue is expected to edge up by just 0.5% in 2011-12... purchase to read moree
Industry Report - Industry Locations Chapter
This industry's activity is heavily weighted towards Scotland, reflecting the use of Aberdeen as a base for the provision of services to offshore oil and gas wells located in the North Sea. Other North Sea facing regions (the North East, Yorkshire, the East Midlands and the East of England) are much smaller in terms of industry activity. The North West is the base for firms servicing gas fields in the Irish Sea, while a small amount of activity occurs in the South West, the location of the large Wytch Farm onshore oil field... purchase to read more