Outlook 2024: Changes and trends in the offshore energy sector

Wind among emerging technologies developing offshore

Making a snapshot of the global offshore energy sector presents a complex picture where oil and gas continues to be an important component of the energy mix, while the contribution from renewable energy sources, predominantly from wind, is becoming more established in certain locations such as the UK. The energy transition is visibly playing out on the UK’s continental shelf as the offshore oil and gas industry continues to operate while its well-established supply chain is actively engaged in supporting the installation of new renewable offshore energy capacity. Global trends Globally, oil and gas production rates are declining in mature offshore basins, while additional reserves are being