THE UK Government has announced plans to invest billions in transitioning the North Sea oil and gas sector into a clean energy industry.

The 'North Sea Transition Deal' will also see the Westminster government stop financing the fossil fuel energy sector overseas from the end of this month.

Launched today, the deal will see up to £16bn of government and private investment go towards cleaner energy technology, helping to reduce emissions and cut pollution.

Ministers say that oil and gas workers will not be left behind, however, despite the "irreversible shift" away form fossil fuels.

The Business Secretary Kwasi Kwarteng said: " We will not leave oil and gas workers behind in the United Kingdom’s irreversible shift away from fossil fuels.

“Through this landmark sector deal, we will harness the skills, capabilities and pent-up private investment potential of the oil and gas sector to power the green industrial revolution, turning its focus to the next-generation clean technologies the UK needs to support a green economy.”

Chief executive of trade association Oil & Gas UK Deirdre Michie said the North Sea transition deal would “unlock billions of pounds of investment and see government and industry work together to deliver a homegrown energy transition, realising innovative low-carbon solutions that can be exported globally”.

She said the deal would ensure affordable and secure energy supplies, secure tens of thousands of jobs in industrial heartlands and support the UK economy.

Despite support from industry, climate charity Greenpeace said there had been a failure of Government in the run up tohosting the Cop26 climate change conference in Glasgow in November.

Mel Evans, head of Greenpeace UK’s oil campaign, said: “While the Government has rightly recognised the need to set a global example in ending fossil fuel finance abroad, its domestic plans for oil and gas continue to fall woefully short, giving mixed messages on the world stage.

“Instead of finding ways to prop up this volatile and polluting sector, a better proposition for workers and communities would be for the Government to confirm a ban on new licences, and put all its energies into a nationwide programme of retraining, reskilling and investment in renewables and green infrastructure.”

Dr Jonathan Marshall, head of analysis at the Energy and Climate Intelligence Unit said the absence of an end date for extracting fossil fuels was a “glaring omission”.

He said it was clear the energy future of UK seas was renewables, adding: “A bold announcement on ending oil and gas extraction in the North Sea whilst supporting jobs and workers through the transition would have made waves comparable to plans to stop generating electricity from coal and ending the sale of petrol and diesel cars.

“With the UK hosting this year’s UN climate summit for the first time ever, this is surely the time for bold action on ending our reliance on fossil fuels.”