THE Tyne has emerged as the hot favourite to secure a £100m deal to build a new North Sea oil rig.
More than 1,000 jobs could be created if Canadian company Encana decides to award a contract to build a rig for its Buzzard oilfield just north of Aberdeen.
The oilfield is the biggest find in the North Sea for more than a decade and is expected to yield more than a million barrels a year.
Members of the Northern Offshore Federation met the Canadian company. Both McNulty and Amec in Wallsend look in line for a share of the deal. The work could be shared out among the yards due to a pioneering work agreement between them.
Industry leaders are confident there is nowhere else with the infrastructure to compare with that already in place on the Tyne.
The Tyne shipyards are already enjoying a renaissance, with Amec about to start work on a £300m contract to work on a huge oil ship, the Bonga, on its way from Korea since June. It will be the biggest vessel to travel up the river. Swan Hunter has also just secured a lucrative deal to work on aircraft carriers.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article