The oil and gas supply chain is worth £35 billion to the British economy.

Figures released by the trade body Oil and Gas UK showed that 40 per cent of this valuation was generated via the export of goods and services. Turnover also has increased by £11.4 billion between 2008 and 2012, while 290 new companies have formed during this period.

In addition, the study found the number of people recruited by the supply chain rose by over 21,000 over the four years, bringing the sector's total workforce to 200,000 employees.  

Scottish energy minister Fergus Ewing commented: "This report clearly highlights the huge contribution that the oil and gas industry makes to the economy now and will continue to make in the future."

The study examined over 3,000 companies employed in the sector and is said to be an extremely strong representation of the UK's upstream offshore supply chain.