The 2012 Oil Field Services Report from Ernst and Young reveals how supply chain companies in the UK’s oil and gas industry provide a significant contribution to the nation’s economy. The data shows that oil and gas supply chain companies, of which there are nearly 400 across the industry, provide direct employment for over 90,000 people and generate £27 billion in revenue. The report also states that supply chain revenue increased by 17% in 2011, and that investment in new projects rose to over £11 billion in 2012.
The oil and gas supply chain sector is an essential component of British engineering and manufacturing, and supports all aspects of the oil and gas industry – from data analysis for riser systems and conductors, exploratory drilling, field developments and production operators, through to decommissioning at end of life.
Patrick Phelan, Managing Director of Aquaterra Energy, said: “Aquaterra Energy is pleased to be part of the UK oil and gas supply chain, designing and delivering world class engineering services and products such as minimum facilities platforms and high pressure riser systems to shallow and deepwater drilling projects all over the world.
“We are all especially proud to be able to provide employment, apprenticeship and work experience opportunities for young people. Our apprenticeship schemes are run in partnership with a number of educational institutions and allow participants to help solve real problems and travel internationally, from Vietnam, to Norway, to Malaysia, and join an industry which forms part of Britain’s proud manufacturing heritage.”