Global exports of North Sea oil and gas products topped £30 billion last year, according to new figures.
The Scottish Government’s latest analytical bulletin on the industry estimates that £18bn of crude oil and natural gas liquids (NGL) were exported in 2012, £12.6bn of which went outwith the wider UK borders.
The petroleum products market was worth £5.9bn £3.7bn of which went overseas while natural gas exports were valued at £6.5bn, £1.2bn of which went abroad.
The report puts the overall export value at £30.3bn, the first time a single figure has been ascribed to North Sea oil and gas exports.
The valuations were compiled under an “experimental” methodology which brings together directly measured data with a number of production estimates, and the authors have conceded that the quality and accuracy of the data cannot be guaranteed.
“The North Sea is a major contributor to Scotland’s international trade position, not only in terms of exports of oil, gas and refined petroleum products, but also exports of services from the supply chain,” the report states.
“Scottish exports of crude oil, NGL, refined petroleum products and natural gas are estimated to have been worth £30.3bn in 2012.
“Approximately 40% of Scottish exports are to the rest of the UK, some of which may be subsequently exported to the rest of the world. The remaining 60% of exports are direct to the rest of the world.
“The wider oil and gas supply chain in Scotland also generates significant activity via both direct exports and international sales by overseas subsidiaries.
“In 2011 direct exports were worth £2.4bn, with sales by overseas subsidiaries worth £5.8bn.
“International activity now represents 46.7% of total sales.”
The report also highlights the importance of the embattled Grangemouth chemical processing and oil refinery facility to the sector.
“Scottish exports of refined petroleum products are still significant,” the document states.
“Scotland had around 13% of UK refining capacity in 2012, but is estimated to have accounted for 18% of UK refined petroleum product exports to the rest of the world.
“This may reflect the importance of petrochemical companies based on the Firth of Forth as a source of international refined petroleum products exports, or the fact that Scottish refineries produce relatively more expensive products.”
Enterprise and Energy Minister Fergus Ewing said the figures showed the importance of the oil and gas sector, and said recent announcements such as EnQuest’s £4bn investment in the Kraken field proved there was a bright future ahead for the North Sea.
“Increasingly, our companies are embracing the major opportunities in the oil and gas supply chain, winning lucrative contracts to export products and services from Scotland,” Mr Ewing said.
“It is the first time the scale of the international industry in the North Sea has been available in such detail.
“We have many creative and innovative companies capable of identifying growth opportunities in overseas markets and making a significant contribution to such business for many years to come.”