Second North Sea Oil Summit announced by Aberdeen City Council

Aberdeen City Council Leader Councillor Jenny Laing has announced details of the second North Sea Oil Summit.

It follows the success of last year’s event.

The private meeting with industry leaders, academics, trade unions, representative bodies and three layers of Government will take place on Thursday, June 30 at Aberdeen City Council Town House.

It will provide an update on progress within the industry and identify the key priorities to ensure the region continues as significant contributor to both Scottish and UK economies.

Councillor Laing said: "The City Council have continued to work with partners on tackling the difficult issues within the North-east. The downturn that we are currently experiencing in the oil and gas industry has brought the need for innovation and diversification.

“The announcement of the City Region Deal was welcomed as a step in maximising the economic recovery but it is vital that we continue to explore new technologies, ensuring we sustain the industry and build on our reputation that Aberdeen is an innovative place to do business.

“While, I believe we currently going through a particularly challenging period the support shown for the region has been extremely encouraging. It is important that the council are the front runners in securing the long-term future of the North-east. We aim to bring the city on an exciting transformational journey as the City Council invest £516 million in a capital programme over the next five years. The investment will allow the city to face current challenges and prosper not only within communities but also on a global scale.”

Aberdeen City Council is continuing to work with ONE and Oil & Gas UK to unlock the cities future potential.

Sir Ian Wood, Chairman of Opportunity North East said: “Aberdeen is now beginning to face up to the challenges of its long-term economic future after the complacency of a strong North Sea dominated era. Maximising economic recovery in the UKCS remains a priority, alongside beginning the work that will transition Aberdeen from the European Oil and Gas operations centre to a global hub for energy-related technology innovation and development. The new Oil & Gas Technology Centre will play a transformational role in this respect. The City Region Deal has secured significant funds to support innovation and diversification and ONE is now tackling the growth of the region’s other key industry sectors, which include Food, Drink and Agriculture; Life Sciences; and Tourism.

"We now have much better alignment between industry, local government and the agencies and this will provide a sound platform to address the challenges of economic diversification and growth. In the short term, we must try and mitigate the impact of the current downturn while planning and making the investment that will secure prosperity in the medium to long term, through the retention and creation of oil jobs and the evolution and growth of key industries.”

Deirdre Michie, Chief Executive of Oil & Gas UK, added: “Much has been done in the past year to tackle our challenges. Industry is working hard to be more competitive, more co-operative and more efficient in order to get through this downturn. These are exceptionally tough times and now, more than ever, we need to be pulling together to secure the future for the North Sea which still holds billions of barrels of oil and gas.”

The City Council is spending £59 million for roads infrastructure projects, including more than £19 million for the Berryden corridor, a further contribution of £75 million for the AWPR, £80 million of investment for green energy, £333 million for the new Aberdeen Exhibition and Conference Centre, funds to invest in flood prevention measures, and £34 million for city-centre regeneration as part of the City Centre Masterplan.

Aberdeen City Council is also investing in the future as £130 million will be attributed in new schools across the city. These projects include the new state-of-the-art centre of excellence facility for children with serious and complex needs; the new academy south of the city, and a replacement Stoneywood primary school. Work also recently started on a £5 million extension at Greenbrae Primary School in the Bridge of Don.