A renaissance for the north-east can only be achieved if new life is breathed into the oil industry, an economic development agency’s boss has said.
Opportunity North East (ONE) was launched in late 2015 to drive growth and create a balanced, resilient economic base in the region.
ONE chief executive Jennifer Craw said this goal complimented Vision 2035, through which the oil sector hopes to unlock an extra £290billion of revenue for the UK Treasury over the next 20 years.
Speaking ahead of today’s Oil and Gas Industry Conference in Aberdeen, Ms Craw called on all stakeholders to recognise the prize at stake.
She said: “We need a successful and competitive oil and gas industry in the region. Vision 2035 sets out an exciting agenda for the industry’s future.
“The recovery of UKCS (UK continental shelf) reserves and growth in an internationally competitive supply chain will be major determining factors in what our economy looks like in 20 years, as part of the wider drive to broaden and strengthen our business base to achieve economic renaissance.
“… The industry, the region and the UK economy are all winners if we get this right.”
Recommended for you
