A significant number of jobs will be created at Arnish as resident company Burntisland Fabrications (BiFab) has won two major contracts.
A total of 350 jobs are expected between the Fife yard and Arnish for the oil production platform work.
Premier Oil has awarded the contract to the company which could double its workforce by the end of this year.
BiFab’s managing director, John Robertson, said: “The two contracts were won we believe, not only due to a commercially attractive bid, but also due to the ability and experience of BiFab’s management and workforce to deliver a quality product, on schedule and with a good safety culture.
“This latest success enhances BiFab’s growing reputation as a major manufacturer of topsides and jackets for the North Sea.
“BiFab is known as one of the largest manufacturers of jacket sub-structures for offshore wind turbines but this is the largest jacket to date for the oil and gas sector.
“Recognising the future demands for a highly skilled work force, BiFab introduced an apprenticeship training scheme in 2007 with the aim to have a rolling programme of 50 apprentices in the scheme at any one time. The award of this project will allow us to continue this programme.”