The eyes of the world will be on this region over the next week as tens of thousands of attendees from the global offshore energy community gather for the SPE Offshore Europe (OE25) conference and exhibition at this most critical of times for the industry as it wrestles with the challenges, barriers and opportunities of the transition to a new integrated-energy approach.
OE25 will be a rallying point for industry leaders, policymakers, and innovators to collaborate on solutions that will show how oil and gas can meet current demand while helping build the low-carbon systems in the years to come.
The timing is critical: As Norway last week announced one of its largest oil finds in a decade, UK Government figures last month highlighted UKCS production is at a record low. This juxtaposition will be played out as UK Energy Minister Michael Shanks appears on the opening plenary on Tuesday, which will also feature an address from his Norwegian counterpart Andreas Eriksen.
More positively, a forward-looking programme will embrace the role of offshore wind, future leaders and diversification of the workforce. And it really should be an optimistic tone given the opportunities at hand – a £44billion decom market. A £100billion investment opportunity between ScotWind and INTOG wind projects.
However, the supply chain knows these opportunities tend to drift to the right so the uncertainty of the medium and near-term for North Sea oil and gas will dominate proceedings with the windfall tax and other government policies not only cause issues for new projects, but also cash flow and appetite for activity like decommissioning and upstream electrification.
Despite many headwinds, the North Sea can be at the heart of the UK’s industrial future as demonstrated by the recent paper submitted to the Department for Business and Trade (DBT) by OPITO, OEUK and AGCC which highlighted that successful industrial strategy should be co-designed between government and industry and be focused on business, people, skills, places and communities.
The industry and this region have to turn up in force at OE25 as a show of strength to policymakers that we are collectively up for it. So, if you have already signed up, please show up and make your presence and voice count.
If you haven’t registered yet, there is still time: Take Part in Offshore Europe.
And travel to and from the venue has been made easy with a comprehensive plan in place including park & ride and direct bus services between P&J Live and the city centre.
Click here for full details and shuttle bus timetables.