As the Oil and Gas Authority continues to work with industry to develop a single, compelling vision for the UK oil and gas industry, it is important to ensure that the Vision adequately addresses the threats and opportunities created by the transition to a low carbon future.
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)
In a study on Oil and Gas Diversification for Scottish Enterprise, Pale Blue Dot Energy highlighted the opportunity for Scotland to deploy surplus oil and gas capability on emerging future energy sectors including Wave and Tidal, CCS, Hydrogen and Heat. There is too little focus on Diversification, particularly in the North East. Oil and gas businesses should develop Diversification strategies in order to manage the long-term decline in oil and gas driven by price uncertainty and the Low Carbon transition.
Pale Blue Dot Energy have been awarded a landmark study by Scottish Enterprise looking at opportunities for diversification of the oil and gas supply chain in Scotland. This follows the recent period of low oil prices and the knock-on effect for business and jobs in oil and gas supply chain. Diversification is an essential part of the solution to help maintain and develop opportunities for Scottish Oil and Gas businesses. The review will consider potential diversification into a wide range of sectors, including; decommissioning, offshore wind and Carbon Capture and Storage, Hydrogen and Heat. The study will be delivered with BVG Associates and Abbott Risk Consulting.