PE Live: OFSE sector should embrace the transition

As the pace of the energy transition accelerates, oilfield companies are increasingly applying their engineering expertise to a more diverse range of applications

The oilfield services and equipment (OFSE) sector should embrace the energy transition and apply its expertise to the challenges faced by renewable energy and the creation of a hydrogen economy, according to the panellists on the PE Live 4 webcast last week. The energy sector has experienced two blows—Covid-19 and the oil price crash—at the same time and was not immediately certain whether these would cause the transition to slow down—due to economic constraints—speed up or remain the same.  “12-18 months ago I would have worried whether companies had really committed to the climate agenda,” says Martyn Link, chief strategy officer at energy services company Wood. “But 2019 was a tipping poi