The Bank of Scotland issued its third annual oil and gas sector report on Friday, saying 39,000 jobs could be created by the UK oil and gas industry in 2014.

The report titled “Rising Fortunes 3: Examining Growth in the Oil and Gas Industry” was based on a survey of 100 UK oil and gas companies.

Of the companies surveyed, 70 percent plan to grow in the coming year.

The industry could also invest close to $30 billion in 2014, according to the report.

Oil & Gas UK, a trade body, responded to the report stating despite large amounts of investment the industry attracts, there is an undeniable skills shortage.

Oil & Gas UK Employment and Skills Issues Manager Dr Alix Thom said, “Companies are very willing to invest in what is a very buoyant market, resulting in high levels of activity which, in turn, generates well rewarded employment opportunities. The industry is actively addressing the skills shortage in the short and long term in a number of ways. For example, the industry continues to be successful in attracting school leavers and graduates by engaging with young people to encourage the uptake of STEM (science, technology, engineering and maths) subjects and stimulate interest in the sector.”


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