Research is being undertaken by Aberdeen & Grampian Chamber of Commerce for the 31st Oil & Gas Survey, delivered in partnership with KPMG.
It seeks to identify changing trends in business confidence, exploration and production activities, employment and skills, decommissioning and other related activities among operators and contractors in both the UK and international markets, with the results analysed by Strathclyde University’s Fraser of Allander Institute.
The 31st survey has now closed.
The 30th Oil and Gas Survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK, revealed that around 45% of contractors increased investment spend in the UK Continental Shelf (UKCS) in the past 12 months. Almost half (47%) reported they have either started to use artificial intelligence or will do so in the next five years.
Top findings included:
- Highest level of investment in R&D since 2006/07 with spend projected to continue
- 72% of firms forecast an increase in profits in 2019
- 90% are optimistic about Aberdeen’s long-term future as a global energy hub