On 18th January, Scottish Enterprise launched the results of their study into Oil and Gas Diversification The material supports oil and gas supply chain companies to develop opportunities in other business sectors and is based on a study we conducted last year. (More info here)
Maggie McGinlay from Scottish Enterprise highlighted the need and opportunity for oil and gas businesses to look outside the sector for new opportunities and indicated that Scottish Enterprise were keen to support and enable this process.
Sam Gomersall, Pale Blue Dot Energy, outlined the results of the study which highlighted significant early opportunities in Offshore Wind, Decommissioning, Nuclear and Water sectors. Longer term sectors, which also present some early opportunities include; Wave & Tidal Hydrogen, Heat, Energy Storage, Unconventional Gas and Carbon Capture and Storage. The analysis considered local and global opportunities for Scottish businesses.
Looking for opportunities outside Oil and Gas requires a significant paradigm shift and considerable effort, but it is the way forward for businesses wanting to grow in the long term. Keith McDermott from Ecosse Subsea presented the strategic approach which has enabled continued growth for his business into Offshore Wind.
The oil and gas sector will continue to be important for Aberdeen, but the time has come to look for new opportunities in new sectors. The material developed for Scottish Enterprise by Pale Blue Dot Energy provides a valuable resource in this process. Businesses need to act, getting support as required, to identify new sectors for their products and services and building a strategic plan to diversify.
“Hope is not a strategy”
This article was written by Sam Gomersall.
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