Ofifcials in Fife have launched a major drive to snare new business from the oil and gas sector after revealing how more than £300 million of industry investment was ploughed into the region over the last year.
Investment chiefs think a targeted effort can attract more companies from the lucrative industry and its supply chain to sites in Methil, Rosyth and Pitreavie after launching a new campaign at a top industry conference in Aberdeen on Thursday.
Major names Oceaneering and Parsons Peebles have already thrown their weight behind the plan, hailing the area as the ideal region for them to go about their business.
The American industrial giant’s umbilical cable-making arm unveiled a $23.5 million investment at its site in Rosyth in mid-2012, while billionaire Jim McColl pledged further heavy investment in the latter when his Clyde Blowers Capital snapped it up for a “significant eight-figure sum” earlier this year.
The new campaign comes as investors in Aberdeen continue to be faced with space and talent shortages and spiralling rental costs.
Oceaneering Umbilical Solutions’ general manager Gary Cochrane said his firm’s location was key to its success.
The company employs around 320 people in Fife and hopes to expand by moving into cabling for offshore wind farms and wave and tidal devices.
“Our strategic location in Fife has enabled us to create our purpose built facility and increase our operations,” he said.
“We are well placed for serving clients in the North Sea, the Mediterranean, Western Africa and Southeast Asia.
“We have access to a large pool of skills, which is vital for the continued growth of our business.”
Historic engineering firm Parsons Peebles, which once employed some 3,000 people, has high hopes for a return to the global stage as a bespoke manufacturer of generators and electrical machines after CBC committed investment of “up to £50 million”.
“The acquisition and investment by Clyde Blowers Capital is allowing us to expand our operations at Rosyth, which is home to one of the most comprehensive test facilities in Europe and focus on international growth, as well as securing the future of the business for generations to come,” said operations director Troy Saunders.
Fife’s delegation to the 48,000-delegate Offshore Europe conference this week also included established names like Burntisland Fabrications and BAE Systems, plus a string of other energy firms.
Invest in Fife’s Ross MacKenzie said the area wants to attract more work in the sector and has plenty to shout about, including a skilled workforce and excellent training options in engineering disciplines.
“We are trying to get across to the industry that the energy sector is very strong in Fife.
“Our new strategy is going to be a little bit more proactive.
“We want to highlight the opportunities we have in Fife, in areas like Rosyth waterfront, at Pitreavie and at Methil Energy Park.”