It would have passed you by – a small survey in the energy sector conducted in one of the more remote parts of the UK.
Obscure it may be, but The Aberdeen City and Shire Export Survey 2010 is a microcosm highlighting the potential for small to medium-sized companies (SMEs) to develop specialist skills that are now prized internationally.
The survey encompassed 236 companies, operating primarily in the oil and gas sector, with a base in the north-east of Scotland. Of the total responses, 157 were from SMEs in the sector. Offering a range of support services, they're far from major players in the energy sector. However, their services have a huge impact on helping operators worldwide make profits and conform with health and safety and quality standards.
As a result of living and breathing the oil industry on their doorstep in the globally minor and declining oilfields of the North Sea for several decades (15-24 billion barrels of oil equivalent remains recoverable in the North Sea), they have developed expertise and knowledge that others internationally want to buy.
So much so, in fact, that the goods and services they exported in the past year were worth GBP 600 million (USD 957m) – that’s GBP 3.5m (USD 5.58m) each. The largest proportion of respondents stated that their approximate value of international business was in the region of GBP 250,000 a year; 15% of companies stated that their turnover from international sales equates to between GBP 2m (USD 3.1m) and GBP 5m (USD 7.75m).
Over the next two years, 52% of these businesses expect exports to increase by up to 20%; and 28% expect exports to increase by over 20%.
Key export markets for Aberdeen SMEs are in the barchart below. The potential is still greater, says Tom Faichnie, energy partner at UHY’s member firm in Scotland, Campbell Dallas. "Companies do not do enough market research, forecasting, or preparation of personnel – expansion is still very much opportunity-driven. Companies need bespoke, practical, reliable, cost-effective services and guidance. Our aim is to offer a comprehensive portfolio of services."
Yet, says Tom: "The skills developed in the North Sea have provided our companies with market leading credentials and a knowledge base which will increasingly be in global demand. The industry excels in finding solutions to complex problems, developing existing technology, an ability to quickly design and innovate along with adhering to high quality technical, health and safety and environmental standards.
"The era of 'easy oil' is over, and significant new discoveries are likely to be in deeper water and 'unconventional sources' where technology must continually advance to develop the reserves in a cost-effective manner. This expertise places our local businesses in a strong position to capitalise on this trend."
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