We kickstart Series Four of the Energy Transition Now podcast, just as RenewableUK begins first day of the Global Offshore Wind 2022 conference and exhibition in Manchester, UK. To keep on topic, this week we're delighted to be discussing the opportunities and challenges of floating offshore wind with Alex Gauntt, Supply Chain Director of Cierco Energy.
Higher oil prices in the first half of 2022 and its impact on oil market fundamentals is already showing a material uptick in offshore exploration and production (E&P) investment and rig count. This will drive considerable demand for Offshore Support Vessels (OSVs) over the next two years, encouraging owners to reactivate their idle fleets.
Saudi Aramco’s initial push to nearly double its jackup fleet by the end of 2024 will result in 31 new contract awards, the majority of which are for long idled or stranded newbuild rigs