Combining hydrocarbons and offshore wind
The impact of two years of COVID-19 and the current crisis in Ukraine is putting pressure on global ESG (environmental, social and governance) reporting. As a result, the pursuit of ESG and decarbonization is being re-evaluated. COVID-19 resulted in a reassessment of globalization, international trade and the environment or biodiversity. At the same time, the Russian invasion of Ukraine has raised another issue, namely the role of energy security, the energy crisis, and the energy transition.
ESG and hydrocarbon, win-win for energy transition
The world is realizing that hydrocarbons are needed not only to keep the global economy going, but also to support the much-needed energy transition, now and in the future. ESG related strategies and reporting requirements should therefore no longer be viewed as a threat to hydrocarbons, but as a potential USP, especially for oilfield services (OFS) technology and manufacturing. Because the OFS are well equipped to be a driving force behind the energy transition and ESG strategies. A win-win situation which should not be missed.
Oilfield services (OFS), the backbone of the energy transition
Since the main spotlight of the ESG criteria in oil and gas is on exploration & production (E&P) companies, such as Shell, BP and OPEC, the main backbone of the sector is overlooked: Oilfield Services. OFS are the main technology providers for not only oil and gas production, but also increasingly for offshore wind projects. The design, construction, manufacture, and installation of offshore wind (including floating wind) are in the hands of OFS companies. Without their knowledge and available installation capacity, most western offshore wind projects would be delayed or not realized.
Meeting demands of investors
The USP of OFS is that these companies are well positioned to not only support clients and customers to tackle their own ESG challenges, but also to provide the much-needed high-tech, low-carbon options that investors demand. By meeting ESG requirements, OFS can help their customers take steps that are not only focused on emissions, but also on environmental impact and biodiversity, energy efficiency and social aspects such as safety, health and working conditions.
Push for the future
OFS could push for a more ESG based role in the future. OFS's capabilities and historical knowledge of offshore activities is a prerequisite to support the Tsunami of new planned or under construction offshore wind projects. If we look at offshore floating wind, with a potential of 2,500-3,000 floaters needed by 2030, the strategic position of OFS is clear. Not only this will be a major USP for offshore oil and gas, but also for offshore wind operators.
An ESG marriage made
in heaven
July 2022
GustoMSC
Karel Doormanweg 35
3115 JD Schiedam
The Netherlands
nov.com/gustomsc
info.gustomsc@nov.com
+31 (0)10 2883 000
The Pioneers of Offshore Engineering
GustoMSC is recognized for providing advanced design & engineering consultancy for mobile offshore units and reliable equipment supply.
We enable and support safe and efficient operations at sea, contributing to a sustainable future.
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June 2022
An ESG marriage made
in heaven
GustoMSC
Karel Doormanweg 35
3115 JD Schiedam
The Netherlands
nov.com/gustomsc
info.gustomsc@nov.com
+31 (0)10 2883 000
The Pioneers of Offshore Engineering
GustoMSC is recognized for providing advanced design & engineering consultancy for mobile offshore units and reliable equipment supply.
We enable and support safe and efficient operations at sea, contributing to a sustainable future.
Please subscribe to the newsletter so we can keep you up to date with our latest stories and extra news updates.
Subscribe
OFS future role of cooperator and communicator
OFS will need to support their customers’ sustainable energy transition more actively in the coming years by setting up the production and manufacturing backbone and discussing ESG issues with customers. In collaboration with customers and partners, OFS can not only become a support sector for hydrocarbons and renewables, but also push for a more applicable technical and financially attractive future. By opening up manufacturing and production of new offshore rigs, vessels or technologies, engineering and design companies can also be the main driver for hard-needed in-country new economic diversification plans.
With a long and wide-ranging history in the maritime industry, GustoMSC has taken the design, analysis, and optimization of offshore units a major step further. Our ongoing pioneering resulted in a successful portfolio of proven designs that were easily applied to offshore wind.
Since 2002, GustoMSC jack-ups installed more than 4,000 turbines and foundations. Based on this, we have further developed our expertise for the wind turbine and foundation installation market.
If we want to achieve our Net Zero goals, we need to continuously optimize our solutions. That is why we work closely with our chain partners to modernize the global infrastructure for sustainable energy supply.
Together toward Net Zero
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Cyril Widdershoven
Founder/Owner/Geopolitical-Risk-Economics and Oil Gas Partner
OFS future role of cooperator and communicator
OFS will need to support their customers’ sustainable energy transition more actively in the coming years by setting up the production and manufacturing backbone and discussing ESG issues with customers. In collaboration with customers and partners, OFS can not only become a support sector for hydrocarbons and renewables, but also push for a more applicable technical and financially attractive future. By opening up manufacturing and production of new offshore rigs, vessels or technologies, engineering and design companies can also be the main driver for hard-needed in-country new economic diversification plans.