Offshore Oil & Gas Sector
In the UK in the first week in June 2017 over 50% of all electricity was generated from renewables, with 10% from offshore wind farms, highlighting the benefit of the $20 billion investment since 2014. During 2016, the UK’s North Sea oil investments fell to less than $25 billion. Globally sanctioned oil projects have been at the lowest level in more than 70 years and exploration spending is excepted to fall again in 2017.
In such tough market conditions opportunities do however present themselves to suppliers in developing innovative solutions, addressing such issues as the reduction of CO2 emissions in offshore production through process control and optimisation, power management, performance monitoring, energy storage and flare management.
In 2016, Scottish Enterprise helped oil and gas firms invest £43 million in innovation. An £180 million Oil and Gas Technology Centre was opened in Aberdeen in February 2017, supported by the Scottish and UK governments. This centre will work with industry towards improving efficiencies and maximising recovery of North Sea resources. Innovation presents opportunities for engineered product solutions.
Bill Dormer has over 10 years of experience in providing engineered products into the Offshore Oil & Gas Sector.
Bill has worked on projects with the following companies:
- Wood Group
- Baker CC
- Score Group