The findings of the 31st Oil and Gas Survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK, reveal that more than half (52%) of respondents report an increasing demand for their products and services in non-oil and gas projects, with a further 25% actively pursuing work outwith oil and gas, and only 11% planning no further diversification.

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Key findings:

  • Almost 40% of North Sea operators and contractors are concerned about diversification and energy transition with around half (49%) working to reduce their carbon footprints or develop low carbon solutions
  • 77% of firms report increasing demand for non-oil and gas projects
  • Fewer than a third expect to be 100% focused on oil and gas by 2025
  • 44% say they are finding it hard to recruit for non-traditional roles
  • A total of 86% of firms expressed some likelihood of engaging in decommissioning activity in the medium term, the highest result since the question was introduced in 2010
  • When asked to consider the top concerns for the next ten years, oil price and market stability remains the biggest concern for 88% of businesses