Energy | ONE

The region has been at the heart of the UK’s domestic oil and gas operations for 50 years. It continues to be critical for UK energy security and in leading energy transition. There is significant energy transition activity underway across the region, drawing on a world-class oil and gas sector and supply chain skills. Aberdeen is now one of the most exciting and attractive locations in Europe to develop and accelerate low carbon projects and activity.

The North Sea Transition Deal, a transformative partnership between the oil and gas industry and the UK Government, sets out an ambitious plan to deliver the skills, innovation and new infrastructure required to meet net-zero objectives. Led by OGUK, it is the first of its kind by a G7 country. It seeks to unlock up to £16 billion in investment over the next decade and support and anchor the expert supply chain built around oil and gas.

Opportunity North East has identified and led transformational opportunities to establish the north east of Scotland as a global leader in technology, innovation and energy transition. It has also supported the oil and gas supply chain to diversify and grow into new markets.

Collectively these activities will anchor the supply chain and secure investment to create sustainable, high-quality green jobs - the number one priority for the region’s energy economy.

Opportunity North East developed and led the OGTC business case that secured £180 million of Aberdeen City Region Deal UK Government and Scottish Government funding. Established in 2016 and now the Net Zero Technology Centre, it is one of the foremost energy research centres in the UK, focusing on developing and deploying technology to accelerate the transition to an affordable net-zero energy industry.

Opportunity North East led the business case for the Global Underwater Hub that secured £17 million from the UK Government and Scottish Government in 2020. The Global Underwater Hub will enable the UK subsea and marine engineering oil and gas supply chain to maximise new "blue economy" market opportunities. Estimates put this global market at £140 billion per annum by 2035.

Opportunity North East created the Energy Transition Zone concept. It led the business case that secured £54 million of UK Government and Scottish Government funding. ETZ Ltd was established in April 2021 to spearhead the region’s energy transition activity. ONE will contribute £5.7m of funding to ETZ over the next five years. ETZ will play a pivotal role in establishing the North East of Scotland as a global leader in energy transition and a net exporter of products, services, technologies and skills.

ETZ’s ambition is to deliver the Energy Transition Zone, a purpose-built net-zero green space connected to the coastline and close to the new £350 million deepwater Aberdeen South Harbour. The Energy Transition Zone will support 2,500 direct jobs, with a further 10,000 energy transition-related jobs across the region.