Guide aims to ease transition from oil and gas to renewablesPublications // January 19, 2017
A new guide aimed at Scotland’s oil and gas supply chain to maximise opportunities in additional markets has been published by Scottish Enterprise. The economic development agency’s Oil and Gas Diversification Opportunities guide is accompanied by a series of factsheets which profile opportunities in ten growth markets, including offshore wind, and highlights the fact that the UK has more offshore wind than any other country, having attracted £10 billion of investment between 2010 and 2015. A further £18 billion will be invested in new projects between 2016 and 2020.
Director of energy at Scottish Enterprise Maggie McGinlay said: “While the North Sea will continue to have a long-term future for Scotland’s oil and gas sector, the current global challenges have highlighted the need for supply chain companies to leverage their skills and experience built up over the last 50 years to target opportunities in other sectors.
“Through the Energy Jobs Taskforce we have prioritised our support to help them do just that. The new guide and factsheets aim to provide companies with an understanding of the main diversification opportunities and how they can maximise them to protect jobs, skills and investment in Scotland. It complements our existing diversification support to companies such as our Offshore Wind Expert Support Service.”
Scottish Enterprise highlighted the example of FoundOcean, said to be the world’s largest dedicated offshore grouting specialist, which first entered the offshore wind industry in 2010 following a 50-year history in oil and gas. From its European offshore service base in Livingston, the firm has successfully secured global contracts within the growing offshore wind sector, which now accounts for around 50 per cent of the firm’s revenues.
FoundOcean sales director Andrew Venn said: “We realised that offshore wind was a market that offered us a diversification opportunity right on our doorstep and we identified that there was a gap in the market for companies, like ourselves, able to offer competitive and innovative solutions. Entering the offshore wind sector is challenging but get it right and it can be a long-term part of a company’s strategic vision with excellent global prospects.”
The new guide contributes to Scottish Enterprise’s overall aim of encouraging companies to look at new opportunities to maximise growth. It builds on the series of 50 Oil and Gas Opportunity Country Guides launched in November last year.