Scottish Enterprise
- A new guide aimed at Scotland’s oil and gas supply chain to maximise
opportunities in additional markets has been published today by Scottish
Enterprise.
The economic development agency’s Oil and Gas
Diversification Opportunities guide is accompanied by a series of
factsheets which profile opportunities in ten growth markets, including:
- Offshore
Wind: the UK has more offshore wind than any other country, having
attracted £10 billion of investment between 2010 and 2015. A further £18
billion will be invested in new projects between 2016 and 2020.
- Heating
& Cooling: Scotland is the lead region in the UK for renewable heat
projects, having gained 19% of the Renewable Heat Incentive funding to
date. The cost of decarbonising Scottish heating systems is estimated to
reach £100 billion by 2050.
- Oil
& Gas Decommissioning: £17.6 billion is expected to be spent on oil
& gas decommissioning across the UKCS between 2016 and 2025. By
2055, this figure is anticipated to reach £50 billion.
- Nuclear
Decommissioning: The UK spends £2-3 billion per annum on nuclear
decommissioning activities and is forecast to spend £117 billion over a
100+ year period to fully decommission its existing nuclear sites.
Director of energy at Scottish Enterprise, Maggie McGinlay,
said: “Whilst the North Sea will continue to have a long term future for
Scotland’s oil and gas sector, the current global challenges have highlighted
the need for supply chain companies to leverage their skills and experience
built up over the last 50 years to target opportunities in other sectors.
“Through the Energy Jobs Taskforce we have prioritised our
support to help them do just that. The new guide and factsheets aim to
provide companies with an understanding of the main diversification
opportunities and how they can maximise them to protect jobs, skills and
investment in Scotland. It complements our existing diversification
support to companies such as our Offshore Wind Expert Support Service.”
FoundOcean, the world’s largest dedicated offshore grouting specialist,
first entered the offshore wind industry in 2010 following a 50 year history in
oil & gas. From its European Offshore Service Base in Livingston, the firm
has successfully secured global contracts within the growing offshore wind
sector, which now accounts for around 50 per cent of the firm’s revenues.
Andrew Venn, FoundOcean sales director said: “We realised
that offshore wind was a market that offered us a diversification opportunity
right on our doorstep and we identified that there was a gap in the market for
companies, like ourselves, able to offer competitive and innovative solutions.
Entering the offshore wind sector is challenging but get it right and it can be
a long-term part of a company’s strategic vision with excellent global prospects.”
Ten years ago, Aberdeenshire manufacturing firm Flowline
Specialist also expanded into the renewables sector. Its recent key
projects include Gwynt y Môr offshore wind farm, SEM REV marine renewable
energies test site and the Bay of Fundy tidal turbine.
Managing director of Flowline Specialist, Jim Smith added:
“At Flowline Specialists we realised that in order to grow our company we would
require to achieve two goals. Firstly, expand our products and services
geographically. Secondly, diversify into other industrial sectors, preferably
new growing industries. We focussed on our core products and skills then tried
to match them into other sectors. Technology transfer, innovative solutions,
keeping an open mind and thinking outside the box are key to success.”
The new diversification guide contributes to Scottish
Enterprise’s overall aim of encouraging companies to look at new opportunities
to maximise growth. It builds on the series of 50 Oil and Gas Opportunity
Country Guides launched in November last year.
Commenting on supporting diversification opportunities in
the oil and gas sector, Scottish Government Minister for Business, Innovation
and Energy, Paul Wheelhouse, added: “The North Sea has a bright future and the
Scottish Government is determined to do all that it can to support the
thousands of people working in the oil and gas sector, who contribute so much
to our economy.
“The goal of the Energy Jobs Taskforce is to ensure this highly skilled and internationally respected workforce can not only drive the development of our own oil and gas industry, and drive export growth through international supply chain opportunities, but also utilise their transferable skills and expertise to contribute to other sectors, such as decommissioning and offshore wind.
“We’re already seeing companies diversify successfully into new markets and this guide is designed to help everyone involved build on that success by maximising the economic benefits for the north east and, indeed, the whole of Scotland.”
“The goal of the Energy Jobs Taskforce is to ensure this highly skilled and internationally respected workforce can not only drive the development of our own oil and gas industry, and drive export growth through international supply chain opportunities, but also utilise their transferable skills and expertise to contribute to other sectors, such as decommissioning and offshore wind.
“We’re already seeing companies diversify successfully into new markets and this guide is designed to help everyone involved build on that success by maximising the economic benefits for the north east and, indeed, the whole of Scotland.”
The diversification guide and factsheets will be launched at
an event tonight, 18 January, at the Aberdeen and Grampian Chamber of Commerce
offices from 6pm. It will include presentations highlighting the key
opportunities as well as hearing from a company which has already successfully
diversified into new markets. To find out more visit our website.
More information:
To access the diversification guide and factsheets, please
click on the links below:
Factsheets:
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