Oil and gas companies Apache North Sea, Nexen and Transocean will be based there.
The park, in the Kingswells area, will comprise 350,000 square feet of office complexes and training facilities.
City council leader Barney Crockett said the investment would go towards making Aberdeen "an outstanding place to live, invest and bring up families".
Developers Drum Property have committed a £6m sum to road improvements in the area around the new business park.
-- Advertisement --
The A944 Skene Road will be widened in both directions and access lanes for Prime Four will be added.
The existing Kingswells roundabout will be realigned.
Council statements emphasised that disruption to road users would be minimised.
A 30mph speed limit has been imposed on parts of the surrounding stretch of road, to be used at off-peak times but only when work is being carried out.
Councillor Crockett said: "It is good to see that despite global economic concerns business is still strong in Europe's energy capital."
Director of Enterprise, Planning and Infrastructure Gordon McIntosh said the development could generate hundreds of jobs and millions of pounds of investment every year.
He said: "This is a very exciting time for Aberdeen. Once complete this development will play a central role in Aberdeen's economic success."
(NE)
