Page 11 - EurOil Week 04 2023

EurOil POLICY EurOil

NSTA sees golden opportunities

for UK supply chain

UK THE UK’s offshore energy supply chain will have safeguard employment for hundreds of existing
a wave of new opportunities as a result of upcom- skilled workers, create opportunities for future
Seven upcoming ing oil and gas projects, new research published talent and bolster the UK’s energy security,” the
projects offer the by North Sea Transition Authority (NSTA). NSTA said.
supply chain golden The NSTA said that seven near-term projects The study also shows that a lot of rig and ves-
opportunities, according requiring 30 new wells and 194 km of pipeline sel capacity is needed from a supply chain that
to the NSTA. had been identified by the research. The study has faced pressure in recent years as a result of
also showed that vessel and rig owners in par- oil and gas market volatility, particularly during
ticular will be in demand, as their services will the COVID-19 pandemic, according to NSTA.
be required for more than 5,000 vessel days and Operators are also having to compete for equip-
almost 2,500 rig days. ment and skills from other oil and gas produc-
Offshore work on most of these developments ing regions and the UK’s expanding renewables
should start either in 2023 or in 2024, depending sector.
on net-zero regulatory assessment, which Off- “It is, therefore, vital that operators collabo-
shore Energies UK has warned in the past are rate with suppliers and share their plans early,
too stringent and could undermine investment. helping ensure that resources are available at the
According to the NSTA, though, these projects right time, and that commitments to support the
present significant opportunities for operators UK’s service sector are met,” the NSTA said.
and the supply chain to work together and take “This new research provides clear evidence
advantage of this visibility when planning for that companies with vessels and rigs on their
asset, workforce and infrastructure availability. books can look forward to plentiful near-term
The operators of the seven projects sup- project opportunities in UK waters,” the NSTA’s
plied statistics in late 2022 to the NSTA, which head of supply chain, Bill Cattanach, said. “To
has been collaborating closely with the Global fully capitalise on them, effective collaboration
Underwater Hub (GUH) to demonstrate how across the industry is absolutely vital.”
impressive the scale of opportunity to the supply Neil Gordon, GUH CEO, added: “It’s more
chain is. imperative than ever that we have a joined-up
Environmental statements for five other near- approach to these developments which takes
term projects were also assessed as part of the account of the vast scale of all opportunities on
study, adding another 17 wells, 120 km of pipe- the horizon for the subsea supply chain. Indus-
line, 3,400 vessel days and 1,400 rig days to the try must have confidence in the regulatory
potential workload. environment, leading to visibility and, more
“The figures show that domestic oil and gas importantly, surety of the domestic project
projects will continue to drive economic growth, pipeline.” ™

Week 04 26•January•2023 www. NEWSBASE .com P11