The agreement, worth an estimated £25 million to the Board over the term, will see BP continue to lease its Albert Quay base from Aberdeen Harbour for the next decade to support its operations in the North Sea and West of Shetland. With activity forecast to increase at the base the company has also elected to expand the area it will occupy.

Aberdeen Harbour chief executive, Colin Parker, said: 'We welcome this very strong commitment by BP to the port and the very clear message it sends out regarding the longevity of the region's oil and gas industry.'

Mark Hardie, BP's UK Logistics Infrastructure Manager, said: 'This award is another key component of BP's long- term marine strategy and commitment to Aberdeen. Over the last decade Aberdeen Harbour Board has provided BP with a world-class facility at Albert Quay and this new 10 year award allows both organisations to further expand and improve service levels to BP's offshore operations.'

Tags: Aberdeen Harbour