New BVG chart plots Scottish renewables route for N. Sea operators to diversify into offshore wind sector to weather crude oil slump

offshore safety IOSH photoThe global oil and gas downturn continues to significantly impact the North Sea oil and gas industry. So to help companies consider the opportunities in offshore wind, BVG Associates (BVGA) has produced an “Oil and Gas Seize the Opportunity: Offshore Wind” guide for Scottish Enterprise.

The guide highlights the opportunities for the oil and gas supply chain in the £210 billion global offshore wind CAPEX and OPEX expected by 2025.

The guide shows how the oil and gas sector can transfer its skills and experience, built up over the last 50 years of working in some of the world’s most challenging environments. Packed with case studies, it demonstrates how companies have successfully diversified into offshore wind from the oil and gas sector.

Alan Duncan
Alan Duncan

Alan Duncan, Senior Associate at BVGA, said: “Scotland is leading the world in floating wind development and has helped the UK become a world leader for deployed offshore wind. Scotland’s capable and dynamic oil and gas suppliers can play a key role in the offshore wind drive to increase innovation and reduce costs”. 

“This guide provides an opportunity map based on real examples from our industry engagement work. The offshore wind supply chain is broken down into 35 sub-elements. This allows oil and gas companies to identify where their specific opportunities lie and what they can learn from companies that have already achieved success,”

For example, FoundOcean – the world’s largest dedicated offshore grouting specialist, with a European Offshore Service Base in Livingston – first entered the offshore wind industry in 2010 following a 50-year history in oil and gas. The offshore wind sector now accounts for around half of the firm’s revenues.

A FoundOcean spokesman said: “We realised that offshore wind was a market that offered us a diversification opportunity right on our doorstep. 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.” 

Offshore wind is a growing market that presents exciting new business opportunities for oil and gas supply chain companies. This guide, along with the sources of information and support that are profiled within it, is intended to help companies realise these opportunities.

Scottish Enterprise’s Offshore Wind Expert Support framework can help Scottish oil and gas based companies receive bespoke expert advice from BVG Associates in areas such as market sizing, socio-economic modelling, business planning and market entry strategy development.

Based in Aberdour, Fife, BVG Associates is an independent consultancy with expertise in the technology, implementation and economics of renewable energy generation systems.

Alan Duncan, Senior Associate at BVGA, is speaking at 2pm today at SCOTLAND’S RENEWABLE FUTURE conference, 26 May 2016 on the theme ofWhere did ‘The Saudi Arabia of Renewables’ story go wrong? 

See full programme and late booking availability: http://www.scotlandsrenewablefuture.co.uk/

Scotland's Renewable Future conference - this Thursday!

 

Pixie Energy

Pixie logo Pixie Energy is an incubator and a facilitator of strategic research and project work, focusing on energy regulation, policy and markets at the local and national level. Find out more about Pixie Energy here.

Local Energy Matters: Scotland

Local Energy Matters: Scotland is a free-to-download brochure with a focus on energy tariffs in the two Scottish electricity distribution regions, as well news on local energy and low-carbon schemes.

Previous editions can be download here.

Scottish energy market overview

You can read an overview of the Scottish energy market here.

Scottish Government energy feed