The government has published an oil and gas strategy as part of a growing industrial policy, featuring plans for a research centre at Newcastle University.
The strategy focuses on support for business growth in oil and gas. Although its aims do not include research, they are based on the UK being a “global leader” in oil and gas R&D.
With this in mind, the Neptune centre for subsea and offshore engineering is to be established at Newcastle University. This will receive £7m in funding: £2m from the university, £3m won competitively from the catalyst fund at the Higher Education Funding Council for England and £2m from industry. The companies involved include Shepherd Offshore, BEL Valves and SMD.