Scottish Secretary Douglas Alexander described Sir Ian as "one of Scotland's finest sons".

"Ian was a giant of Scottish business, philanthropy and society. A proud son of Aberdeen, he was a tireless advocate for the Granite City and its people," he said.

"Personally, it was a privilege to be able to know him, work with him on his philanthropic endeavours, and like so many Scots, I mourn his passing.

"My thoughts today are with Lady Helen, Nicholas, Graham, Garreth and the whole family for whom his loss will be most keenly felt."

Scottish Conservative MP for Aberdeen South, Douglas Lumsden, said:

"Scotland has lost a true guiding light of its business community. Sir Ian was a champion of everything North East, both as a paragon of its economy but also as a philanthropist who did so much good at home and abroad.

"He and his workers around the world forged an international reputation for excellence in energy.

"The Wood name also meant a helping hand to communities, wherever it went."

David Whitehouse, chief executive of Offshore Energies UK, described Sir Ian as "one of the defining figures of the North Sea oil and gas industry".

He praised his work in leading the 2013 Wood Review, which led to the creation of the North Sea Transition Authority.

Whitehouse added: "Sir Ian transformed his family's fishing business into a global engineering player as well as establishing Scotland as a world-renowned centre of energy expertise.

"The offshore energy sector we know today would be very different without Sir Ian's vision, leadership and persistence."