Works begins on '5000-job' Kingswells energy hub
02 August 2012
Work has begun on a new energy hub on the outskirts of Aberdeen, which could sustain up to 5,000 jobs – many in Scotland’s dynamic chemical sciences sector.
The first phase of the Prime Four business park at Kingswells on the outskirts of Aberdeen is due for completion in September next year.
Oil and gas companies Apache North Sea, Nexen and Transocean will be based there.
A programme of road improvements costing millions of pounds will be carried out as part of Drum Property Group's development.
Drum Property Group said investing more than £100 million for the complexes would create a new energy hub.
Drum Director Graeme Bone said: "We are delighted to have attracted companies of this stature and reputation. Our economic consultants have estimated that this phase, when fully operational, will sustain jobs locally and be worth £300 million a year to the local economy.
"The long-term nature of the commitments at Prime Four anchors many billions of pounds of economic output and thousands of jobs in Aberdeen for years to come. This is a very significant development not just in local terms but also for Scotland generally.”
Industry collaboration key to future growth
The news comes on the back of a report which suggested UK offshore oil and gas industry could still generate more than £376 billion in revenues.
But PricewaterhouseCoopers (PwC) warned action was needed if Aberdeen was to continue as a world-class energy capital in years to come. The report argued industry as well as financial, public sector and academic stakeholders should collaborate more.
Otherwise, it said, the chance to create a lasting legacy could be lost.
The report said the UK continental shelf could generate more than £376 billion (600 billon USD) in new revenues through a combination of fresh funding and investment, fiscal certainty and targeted incentives.
Greater public and private sector collaboration and a more coordinated approach by industry and education were also needed, the report said.