Energy Secretary Ed Davey said the North Sea investment boom was proof that the partnership between the UK Government and the energy industry had never been stronger.
Speaking on a visit to Aberdeen yesterday to welcome a multimillion-pound oil and gas contract, he said the success was built on close working with companies to develop tax allowances for investment.
A report earlier this week revealed investment in the North Sea was at its highest for 30 years at almost £100billion.
Lib Dem minister Mr Davey said: “We know the potential for the Scottish economy is huge and we want to work to make sure we maximise that potential.”
He added that he would be working on an industrial strategy over the next few months with Business Secretary Vince Cable to ensure there was more UK “content” in future projects.
Mr Davey said: “In the past, we’ve seen investment and jobs go elsewhere.”
He also said he was hugely confident in the sector and its ability to generate and sustain oil and jobs in the long term.
Referring to Shell’s recent re-evaluation of its Fram project, which led to multimillion-pound contracts with oil service firms being cancelled, he said: “You may be able to point to one or another example where it’s not going so well, but I have to say that the big picture is fantastic news for Scotland.” He also reaffirmed the UK Government’s long-term support for the renewables sector.
“We’re going to need huge amounts of renewable energy,” he said, adding: “We agreed across government before Christmas that we would triple the support for renewables between now and 2020.”
He said finding solutions to climate change was essential but the UK would need a mix of energy sources for some time to come.
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