Former shipbuilding giant Swan Hunter was celebrating last night after securing a contract which will create 800 jobs.
The jobs have been secured at the company's shipyard in Wallsend, North Tyneside.
The contract, from American firm Kerr-McGee, involves building a floating production storage and off-loading vessel for use in North Sea oilfields.
Swan Hunter Tyneside commercial director Norman Brownell described the contract as the largest in the North Sea this year.
He said: "It is excellent news. It's a justification of all our efforts.
"What this has achieved is another step towards being world-class performers.
"For the workforce it is great, and for the area it is great. We want to be able to provide regular work so we can give people more than one Christmas to look forward to.
"It shows the confidence in the area and I think the North-East can offer one of the best services in the world for this kind of work."
The contract involves building and installing equipment aboard a pre-built hull, providing 800 jobs to Swan Hunter and the companies involved in the North Eastern Marine and Offshore Cluster.
Tesco jobs bonanza - Page 1
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