A company on North Tyneside has won a £50 million contract to held extend the life of oil platforms, which will create 400 jobs.
Offshore Group Newcastle (OGN) will engineer and make a structure known as a 'jacket', the base for a drilling rig, for the oil company Talisman, at its yard in Wallsend.
Companies in OGN's supply chain will also benefit from the new contract.
OGN received a grant from the government's Regional Growth Fund, and will begin manufacturing the jacket in the coming months.
Earlier this year the company announced it would create 800 new jobs to make similar structures for offshore wind turbines at a new factory at Wallsend.
"The North Sea oil and gas market is thriving at the moment with substantial investment due to take place in the near future, and we hope these recent awards are the first of many with Talisman in the coming months and years."
More top news
Paul Brand and guests - including two new North East MPs - discuss the Queen's Speech and the Labour/Lib Dem leadership campaigns.
A look ahead at the forecast for the Tyne Tees region.
Health services that dealt with a double murderer should have identified the probability that he would re-offend