Scotland has launched a new £5 million fund to help businesses benefit from the decommissioning of infrastructure in the North Sea.
The Decommissioning Challenge Fund (DCF) was announced by First Minister Nicola Sturgeon following Shell’s proposals for dismantling the Brent oil and gas field north of Shetland.
The Fund aims to open up opportunities for supply chain companies in Scotland, supporting infrastructure upgrades, innovation in salvage and transport methods at ports and harbours.
It also hopes to encourage engineering scoping work at key sites to build business cases that will attract further private investment.
Scottish First Minister Nicola Sturgeon said: “News that Shell plans to apply to begin decommissioning its Brent oil field underlines the importance of planning for decommissioning.
“The Fund build on our Programme for Government commitment to identify investment opportunities, with a view to improving capacity at Scottish ports, increasing the economic return to Scotland from a variety of removal, disposal and dismantling activities.”
Decommissioning activity in Scotland is expected to be worth between £8.3 billion and £11.3 billion in the next 10 years.