A new report by Robert Gordon University (RGU) found that the sector could thrive with the right investment environment, but a slower transition away from the oil and gas extraction industry that has dominated the North Sea for many years presents risks.

It said that a successful transition to renewables relied on the UK being able to retain the offshore oil and gas supply chain, its workforce and associated skills over the next five years.

This is because there is currently limited capacity for the offshore renewables sector to host the quantity of skilled oil and gas workers impacted by the predicted decline in the sector until later this decade.

The Powering up the Workforce report estimates that a successful transition could see the offshore energy workforce increase by up to 50 per cent – from over 150,000 in 2023 to 225,000 by the end of the decade.

Professor Paul de Leeuw, director of RGU’s energy transition institute, said: “With investment at...