Umbrella Company Employees contracting in the oil and gas industry are poised to see demand for their talents soar in the wake of the latest annual oil and gas report from the Bank of Scotland, which reveals that companies in the sector are planning to create up to 39,000 new jobs and contracts in the UK over the next two years.

The survey sampled 100 oil and gas firms and found that 70% reported being extremely optimistic about their growth potential in 2014 and 2015.

Stuart White, the Bank of Scotland’s commercial area director, said: “The findings of this report are excellent news for the economy, demonstrating the employment-generating nature of the oil and gas industry now and in the future. With most of the UK’s oil and gas firms clustered in Aberdeen and the north-east, Scotland should reap the largest share of these new jobs; however, other parts of the UK will benefit from expansion plans.”

According to another study by the UK’s biggest research consultancy, CDRC Continental, growth in the sector will not be confined to the UK alone: oil and gas firms are also planning major international expansions. 64% are planning to prioritise expansion into foreign markets, with the Middle East, Africa and North America emerging as the areas considered most ripe for growth.

The CDRC findings represent a climb of 5% on last year’s equivalent study. The international expansion plans of oil and gas companies, the report concludes, will benefit the global economy and drive a huge number of new employment opportunities within the industry.

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