The renowned UK subsea industry has lost 20% of its capability due to recent oil downturns, according to a membership body - and there's an urgent need for joined-up thinking to deliver on the "tsunami" of energy transition opportunity ahead.
“You would like to think it was good planning,” joked Neil Gordon, chief executive of the Global Underwater Hub (GUH), “but I think it’s just fortunate that, at the moment, it looks as if everything has landed well for us.”
Maybe yesterday should be renamed Green Monday rather than Blue Monday. It was certainly a day to celebrate the ambition for renewable energy in Scotland as the ScotWind licencing round was announced with provision for significantly more GW than anticipated.
After nearly two years in which we have all faced challenges operationally, economically, and personally, there is much to look forward to for the underwater sector in 2022 and we prepare for the new year with confidence. There is much to be optimistic about in terms of the energy transition and the blue economy.
In between the Teams and Zoom calls, which now fill our days, and the odd webinar or two, it’s becoming increasingly evident that the oil and gas industry needs to have some serious conversations about value.