Shetland has been identified as the optimal location for an "ultra deep water" decommissioning port.
Dales Voe in Lerwick was selected following a UK-wide feasibility study,
The announcement was made as industry figures gathered on Shetland for an Oil anhd Gas Authority event.
Energy Minister Paul Wheelhouse said: "I believe investment in a deep water port will unlock the potential for Scotland to secure the largest decommissioning contracts."
The feasibility study was carried out by Ernst and Young.
Mr Wheelhouse explained: "A deep water port in Scotland will bring significant benefits not only for a single location, but as a key part of an integrated and networked Scotland-wide decommissioning offering, with wider opportunities realised through the supply chain.
"We will continue to engage with industry to measure expected demand and to ensure that investment in a deep water facility will bring the widest possible economic benefit and most substantive boost to the decommissioning supply chain in Scotland."
Sandra Laurenson, chief executive of Lerwick Port Authority, said: "Official identification of Dales Voe in a nationwide feasibility study as the optimal location for the UK's ultra deep-water decommissioning facility is a welcome endorsement of our belief that this is an excellent future opportunity for Shetland."