New industry boom in North Sea

Published on Sunday 30 November 2008 19:58

SCOTS firm are being urged to explore the opportunities in the growing oil and gas decommissioning industry, estimated to be worth £19 billion.

Almost 30 representatives from the UK decommissioning steering group will meet in Lerwick tomorrow to discuss how government funding may help overcome existing barriers.

The group was formed by Scottish Enterprise, Highlands and Islands enterprise (HIE) and the Department for Business Enterprise and Regulatory Reform and includes some of the North Sea industry's leading companies.

The Department of Trade and Industry values the industry in the region of 19 billion with the most significant level of work predicted to start in 2010.

HIE sees Lerwick as one of the best locations for this industry, having a skilled labour force with more than 30 years' experience in the oil and gas industry.

Katrina Wiseman, head of transformational projects, said: "There are a number of companies that can benefit from work in this relatively new industry, as well as an opportunity for new businesses to locate to the islands."