Fabricom Offshore Services, a subsidiary of Fabricom Contracting, is creating a base for its offshore oil and gas engineering business in north Tyneside bringing with it up to 250 engineering jobs.
Fabricom Offshore Services’ North Sea activity will include design and detailed engineering, maintenance and modification work to terminals and platforms, field decommissioning work in the North Sea.
In addition, it will provide on and offshore services for international companies such as BP, Shell, BG, Total and ConocoPhillips and new entrants into the industry such as Talisman, Apache, Valiant and Nexen.
Fabricom’s decision to locate a new base in north Tyneside was secured thanks to a £1.6m Selective Finance for Investment (SFI) grant from regional development agency One NorthEast.
The agency’s sectors team has been working with Fabricom over a period of several months, looking at the region’s supply chain to link Fabricom into the relevant regional partners to help find the right location for Fabricom Offshore Services.
'Investment levels in the North Sea are at an all time high being in excess of £11bn over the past year and the current high oil price is expected to maintain a buoyant market for the foreseeable future,' said Ian Williams, One NorthEast's director of business and industry.
'The building of new rigs as well as the maintenance of existing rigs has seen yards in Europe filled to capacity. This is a level of activity that the industry is forecasting will be sustained,' he added.