Over the last four decades, the North Sea has become the centre of one of the world’s most productive energy industries. At its heart, the Aberdeen City Region has gained a reputation as a Global Energy Hub.
North Sea oil was initially discovered in the 1970s, and by the mid-1980s there were over one hundred installations. Through extraordinary technological innovation and human skill and effort, millions of barrels were being produced every day. An oil and gas bonanza had occurred.
In the last 40 years the industry has recovered a total of 36 billion barrels of oil and gas from beneath the seabed, in one of the world’s most hostile offshore environments. Estimates suggest that there is up to around 28 billion barrels of oil and gas still to recover from Britain’s offshore fields, which will sustain industry activity for years to come.
The Aberdeen City Region’s oil and gas industry has put Scotland on the map as a centre of global excellence in offshore engineering, subsea technology and in the export of offshore goods and services, which has increased by 31% over the last two years and is today worth around £4billion a year. Home to world-renowned expertise, the skills and knowledge harboured in the region leads this vital industry from the front.
The offshore oil and gas industry is seen as an important symbol of the emergence of modern Aberdeen.
The Oil & Gas Technology Centre (OGTC) was established in October 2016 with £180million funding as part of the Aberdeen City Region Deal.
It is an industry-led research and knowledge organisation, backed by both the UK and Scottish governments to fund and direct projects that help to unlock the full potential of the UK North Sea. It aims to be the go-to technology centre for the oil and gas industry in the UK and internationally.