The UK oil and gas industry has welcomed new measures announced by the UK Chancellor of the Exchequer in his latest budget.
The UK oil and gas industry has welcomed new measures announced by the UK Chancellor of the Exchequer in his latest budget.
That’s according to industry body Oil & Gas UK (OGUK), which noted that close cooperation with the sector is essential to maximize its “world-leading expertise and assure a successful green energy transition”. OGUK said the combination of taxation and investment measures offers a potentially strong route to transition energy and employment ahead of the “much anticipated and crucial” North Sea Transition Deal that it is currently negotiating with the government.
Chancellor set to announce £27 million for Aberdeen renewable energy zone
Tomorrow s UK Budget expected to contain various streams of funding for Scottish regions
Updated
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In tomorrowâs Budget, Chancellor Rishi Sunak is expected to commit £27m for the Aberdeen Energy Transition Zone, transforming the area into a renewable energy hub.
Floating Offshore Wind sector promises global opportunities for subsea industry
03 Mar 2021
Floating Offshore Wind (FOW) sector through a three-part webinar series organised by
Offshore Renewable Energy (ORE) Catapult’s Floating Offshore Wind Centre of Excellence (FOW CoE), beginning this month (9th March).
Subsea UK is encouraging underwater engineering companies to capitalise on the massive global potential in FOW following recent developments. UK Government has set a target of one gigawatt (GW) of floating wind capacity by 2030, the EU is aiming to have 100-150 GW by 2050 and new research from Wood Mackenzie states the
FOW market in Asia Pacific could offer investment opportunities worth up to $58 billion.
Rovco Delivers Record 2020 as it Plans for 2021 Growth
Rovco, a leading provider of energy industry robotics and hydrographic services using AI and Live 3D technology, has announced a record year for 2020, delivering £7.5 million (US$10.3 million) in revenues – a 286% increase on 2019.
2020 also saw the winning of new contracts and growth of backlog that now stands over £16 million ($22 million) reflected in future revenues. The company saw dramatic growth in employees, rising from two in 2016 to 53 at the beginning of 2021.
Brian Allen, CEO and founder of Rovco, commented: “2020 has undoubtedly been a challenging year for all of us in the energy industry. Yet, this performance is a testament to Rovco’s outstanding team who have really gone above and beyond to deliver great results and I’m honoured to be working alongside them. We have been lucky to have over 75% of our revenues coming from offshore wind, with this sector more than making up for any slowdown in oil & gas
Subsea Expo will no longer take place this year, event organizer Subsea UK has revealed.
Subsea UK, which
previously postponed the event from February to May this year due to the coronavirus-imposed restrictions, noted that it has decided to wait until 2022 before staging the show. The three-day exhibition and conference is now scheduled to run from February 22 to 24, 2022.
All exhibitors and sponsors will be able to carry over their bookings and any deposits to next year’s event, Subsea UK confirmed, adding that the show will now celebrate its 16th anniversary next year. Subsea UK also revealed that it is exploring the potential of a scaled-down virtual event, or series of events, in May 2021.