An "extreme" engineering centre will be built to help develop deep sea technology.
The £7 million Neptune National Centre will be created on the River Tyne in Newcastle.
Unveiling the centre as as part of a new oil and gas strategy, Business Secretary Vince Cable said: "This cutting-edge new facility will help put our academic community and industry at the centre of subsea and offshore engineering research."
Newcastle University will help provide funds of try scheme as a centrepiece for economic revival.
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Prime Minister insists the UK will maintain a strong relationship with Europe especially on trade and security, even after it leaves the EU.
Cloudy, with outbreaks of rain spreading northeast across the UK, however northern Scotland remaining largely dry until later.
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