A report setting out the technologies needed to deliver a net-zero emissions energy system on the North Sea, highlighting the major economic opportunities this transformation offers, has been published.

The Oil and Gas Technology Centre (OGTC) published the report with support from the Scottish Government which set out how new technologies can dramatically reduce emissions.

It also noted how these technologies can be used to harness the full potential of the country's natural resources.

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It states innovation in the renewables and fossil fuel sectors could create more than 200,000 new jobs across the UK and contribute £2.5 trillion to the economy by 2015.

It says the renewables sector will be crucial in supporting the oil and gas sector's journey to net-zero emissions.

But it added this innovation will need £430 billion of new investments.

Colette Cohen, CEO at OGTC, said: “Reimagining the North Sea as an integrated energy system is essential for the UK and Scotland to achieve their net-zero ambitions. But we need to invest now to close the gap on the key technologies needed to make this ambition a reality.

“Leveraging our strength in oil and gas, we can also partner with the renewables sector to accelerate the delivery of the next generation of energy in the UK – and internationally. This is where governments and industry should focus investment at pace in the coming years.”

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Scotland’s Energy Minister, Paul Wheelhouse, said: “The Scottish Government and the oil and gas sector recognise the considerable role offshore energy integration and technology can play in the North Sea’s transition to net zero.

“This study provides us with further intelligence to support and accelerate the development of an updated integrated energy vision, building on our 2017 Scottish Energy Strategy and can inform the work of the Oil and Gas and Energy Transition Strategic Leadership Group.

"An integrated offshore energy system – including carbon capture, utilisation and storage and the use of hydrogen – can help Scotland and the UK meet our greenhouse gas emission reduction requirements in the timescale necessary for action."