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O&M 'Biggest Opportunity' For Subsea Companies Diversifying Into Offshore Wind

Posted: 06/01/2017

A new report titled Subsea Technological Challenges in Offshore Wind has identified that operations and maintenance (O&M) is in fact the highest area for potential for subsea companies looking to diversify into offshore wind.

The National Subsea Research Initiative (NSRI) report has highlighted that activities in maintenance, repair and inspection in particular are good areas for opportunity, since about 40 per cent of the typical lifecycle costs of offshore wind farm developments come from O&M. For offshore wind deployment in the UK, the costs for over 5,500 turbines could be worth £2 billion a year come the year 2025.

Project director of the NSRI Dr Gordon Drummond Commented: "The offshore wind industry is focused on innovating to reduce costs, giving subsea companies the chance to introduce new technology and products to the industry. Diversifying into renewables provides greater resilience for companies and those who take an early lead will reap the benefits."

He went on to add that offshore renewables is a growing sector so there are plenty of new business opportunities for those in the UK supply chain, especially since renewables are "taking off at an incredible rate".

Back in September, Subsea UK partnered up with the NSRI to run the first in a series of Subsea Springboard events to help connect companies with end users. These events are due to take place every three months to address a number of different topics and industry themes. It's hoped that the move will encourage the oil and gas industry to adopt tools and technologies that have the ability to boost efficiencies and reduce operational costs.

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