The Scottish independence referendum campaign is impacting on the plans of nearly half of the UK’s oil and gas industry, a study has found.
While 38% of firms which took part in the poll among operators, contractors and service companies said the outcome of the vote on September 18 would make no difference to them, there were more businesses favourable to independence (18%) than those opposed (12%).
About one in thee companies said they did not have enough information to make a judgement call.
The research was carried out by Strathclyde University’s Fraser of Allander Institute on behalf of Aberdeen and Grampian Chamber of Commerce (AGCC) and sponsoring law firm Bond Dickinson, which said the findings highlighted “political uncertainty” facing the oil and gas industry.
The Scottish Government said it showed oil and gas firms were “not fazed” by the prospect of independence, while the Better Together campaign said it underlined the “big risks” of separation.
Fraser of Allander questioned more than 700 operator, contractor and service companies during March and April for AGCC’s 20th oil and gas survey.
Almost half (45%) of the firms said the referendum debate was affecting their plans and investment proposals, up from 38% a year ago.
The survey also revealed good levels of confidence within the industry, growing investment and strong support for the Wood Review, in which former Wood Group chairman Sir Ian Wood set out his ideas for boosting spending and encouraging collaboration in the North Sea.
But it also highlighted continuing skills shortages and demand for more tax relief and capital allowances.
Just 52% of contractors said they were working at or above optimum levels, the lowest percentage since late 2011.
Uisdean Vass, Aberdeen-based oil and gas partner at Bond Dickinson, said: “With the referendum on Scottish independence less than four months away, the uncertainty arising from the actual referendum process has caused more angst amongst oil and gas companies than the prospect of an actual Yes vote.”
AGCC chief executive Robert Collier said: “The UK oil and gas sector faces a challenging time but the industry is responding well, with many firms increasing investment.
“North-east Scotland is pivotal to the Scottish and UK economy and it is vital that the oil and gas industries here are supported so they can maintain their impressive growth record.
“The effective implementation of the Wood Review would be a positive step in the right direction.”
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