Faroe Petroleum, an independent oil and gas group focused on oil and gas exploration and production in Norway, the Atlantic margin and the UK North Sea, announced today its audited Preliminary Results for the year ended 31 December 2013.
Scottish Oil and Gas Boom
July 31, 2013 by Leave a Comment
The oil and gas sector is an important part of the Scottish economy. It is estimated to contribute around £25 billion to Scottish GDP, approximately 17% of the total in 2011. The sector is also a major exporter, with total UK production of oil and gas boosting the UK balance of payments by an estimated £40 billion in 2011. The growth of the oil and gas sector in Scotland has produced a wider supply chain to support the industry. There are estimated to be 2,000 companies in the oil and gas supply chain operating in Scotland, providing services to the offshore industry worldwide. In 2010, the Scottish supply chain generated sales of £16.3 billion, of which over £7.6 billion was accounted for by international sales.
Officer of the Watch 