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
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30