Trade body Offshore Energies UK (OEUK) has launched a new “roadmap” it says can unlock £90 billion-worth of North Sea opportunities for the domestic supply chain.
It is aimed at making sure UK firms build and deliver the changes required to bring about a net-zero energy system.
According to OEUK, the wider offshore energy sector can invest up to £200bn in UK energy production and technology projects throughout the rest of this decade to help deliver government energy targets.
Harnessing the Potential
Its new blueprint for bringing about this investment, Harnessing the Potential, is the result of a partnership with Robert Gordon University in Aberdeen.
The document outlines how the UK can support jobs, economic growth, and innovation.
OEUK supply chain and people director Katy Heidenreich said: “Delivering the roadmap and building more energy projects in Britain could unlock £90bn of work for our offshore energy supply chain.
“This will support UK jobs, economic growth and innovation well in the future, while we cut emissions and continue to deliver secure supplies of energy.”
OEUK striving for the biggest prize possible for Britain-based companies
She added: “Delivering 100% of these projects through UK companies would make the size of the prize even bigger.”
OEUK is urging politicians to put more emphasis on creating an “energy future” built in the UK instead of shipped and sourced from abroad.
This will counter plans from other countries to attract supply chain investment, it said.
Ms Heidenreich added: “We need politicians of all parties to support the roadmap and our plans for at least half of these projects to be delivered in the UK.
“This means putting the UK workforce and industrial capabilities at the heart of decision-making on energy, supporting enduring policies that encourage companies to invest over decades and championing the talent on our doorsteps to a global market.”
Best case scenario
Harnessing the Potential outlines a best case scenario, where 50% of Britain’s energy strategy ambitions are delivered by the UK North Sea supply chain.
This would see 50 gigawatts (GW) of offshore wind capacity, 10GW of hydrogen production, 30 million tons of carbon captured and stored per year and the prioritisation of domestic oil and gas production over imports over the coming decade.
An alternative scenario based on lower investment would deliver opportunities worth only £60bn to UK supply chain companies, OEUK said.
Oil and gas will continue to drive the majority of opportunities for the supply chain until at least 2027, the trade body added.
Sarah Cridland, country manager in Britain for London, Houston and Paris-based energy services firm TechnipFMC, said: “We have a highly skilled workforce here in the UK, working to meet the needs of the energy industry, both now and in the future.
“What we know and can do now has clear applications in energy transition technologies.
“Our expertise in technology development and integration is an essential part of this transformation. And thanks to our historical investment here, we are in a good position to execute projects in this new frontier.”
