The oil and gas sector is continuing to outperform the rest of the Scottish economy, according to new survey findings published on 5 November 2012.

The 17th Aberdeen & Grampian Chamber of Commerce oil and gas survey reveals that activity and confidence in the sector continues to rise with a strong demand for employment and increasing investment on the part of both operators and contractors. Involvement in decommissioning work and renewables, however, remains limited.

Recruitment and skills shortages continue to be major issues for a highly skilled industry in which the average wage is currently around £64,000, more than double the national average wage of around £25,000. While the national average has risen by just 1.5% over the past year the survey shows that in the oil and gas sector companies have generally been paying increases of between 5% and 12% to attract or retain staff.

The global outlook for the sector in 2013 remains positive, although continuing political and economic uncertainties and the development of unconventional gas and oil production may change the shape of the international energy market in the medium term.

Tags: Aberdeen & Grampian Chamber of Commerce Oil and Gas Survey