Agility and innovation are the essentials for battered North Sea industry's survival

摘要

THE North Sea oil and gas industry's long history of offshore innovation is facing perhaps its biggest challenge yet as the notoriously cyclical business weathers a downturn unlike any other. What makes the current situation different is the uncertainty over how coronavirus will play out and what it will mean for oil demand - and work environments - in the coming months. But perhaps the more profound difference this time is that the downturn comes as pressure mounts for the energy industry to play a more active role in reducing greenhouse gas emissions - especially in Western Europe, where many governments have set ambitious net-zero carbon targets. Just about any new technology development initiative must embrace those goals. For North Sea oil and gas, that means things like electrification of offshore platforms and subsea installations, better inspection and monitoring tools, and digital technologies to enable less carbon-intensive operations. But there also are many offshore technologies that have indirect climate benefits.