The Strathclyde Oil & Gas Institute is to be based at University of Strathclyde in Glasgow.
It will be housed in the institution’s £89 million technology and innovation centre, due for completion later this year.
Those behind the project said the institute has been developed with the sector to address the “key challenges” it faces, such as the continued operation of ageing infrastructure.
About 30% of the 7,000 platforms in operation around the world are more than 20 years old, the university said.
Work at the base will particularly focus on topics from the design of platforms to the monitoring of equipment through to its final decommissioning.
The institute will also allow companies to access research and innovation capability, highly-skilled graduates and leading-edge facilities, it is claimed.
University principal Professor Sir Jim McDonald said: “The Strathclyde Oil & Gas Institute represents an important step forward for the university’s contribution to the sector.
“It will respond directly to industry needs and will help to address key business drivers including continuously improving safety and environmental performance, reducing costs and increasing production efficiency.
“The oil and gas sector is recognised globally for its impressive levels of expertise and the high-calibre of its people.
“The new institute will work in partnership with industry to further support innovation and deliver economic impact.”
The institute will pull in expertise from across the university’s four faculties of engineering, science, business and humanities & social sciences, bosses said.
Melfort Campbell, chairman of IMES Group, one of the industry partners working with the new institute, said: “It has been a pleasure supporting Strathclyde on the development of its Oil & Gas Institute.
“The focus on asset integrity aligns well with the university’s proven strengths in this area and resonates strongly with many of the key challenges that the sector is facing.”