Growing scale of offshore windfarms attracts IOCs
Projects in deeper waters and at higher specifications are more closely aligned with the offshore oil and gas industry’s strengths and provide portfolio decarbonisation benefits
Global offshore wind projects are moving farther offshore into deeper waters, driving the need for higher-spec equipment and more capable contractors. This could present an opportunity for oil and gas developers to make up for lost projects as countries transition away from fossil fuels. The majority of today’s installed offshore wind capacity is located in waters less than 30m deep, but developments are gradually entering deeper areas where winds are stronger and offer more potential energy output. The average depth of commissioned projects worldwide surpassed 30m for the first time in 2019 and is set to exceed 40m by 2023 and 50m by 2025, according to industry analysts at IHS Markit. But m

Also in this section
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
12 March 2025
Launch of credit trading scheme likely to slip into 2026 as government grapples with complex market design challenges
11 March 2025
Direct air capture is still in its infancy, but organisations are seeking to leverage global collaborations and AI to discover new materials, with an aim of scaling up the technology and cutting costs
8 March 2025
Honouring the trailblazing women shaping the future of hydrogen