The top three trends I’m expecting at ADIPEC 2023
from Managing Director, James Larnder at Aquaterra Energy
Decarbonising. Faster. Together. That is the tagline for this year’s ADIPEC 2023 conference, and it’s a fitting one for the Middle East’s premier energy show as the region pivots towards securing the greener energy landscape of the future.
Ahead of the event, here are the three key trends which we expect to feature prominently this year.
1) The energy transition is underway and gaining speed at ADIPEC 2023
The move towards renewable and cleaner energies will be a vital conversation at ADIPEC 2023, both from tapping into the region’s vast potential for renewable power generation, but also emerging markets like green hydrogen. The Middle East is blessed with abundant sun and wind potential and ambitious targets are driving the renewables roll out. The UAE aims to generate 50% of its electricity from renewable sources by 2050 and Saudi Arabia plans to install 58.7 GW of renewable energy capacity by 2030.
Beyond renewable generation, there are also opportunities for the region to recreate its status as an energy leader through new markets such as green hydrogen and CCS. At this year’s ADIPEC, we want demonstrate how we can play the role of industry enabler for this transition, and will be discussing our innovative CCS monitoring technology, CCS ready risers systems, green hydrogen platforms, and offshore wind analysis amongst our wider range of products and services. While the ambition is undeniable, it will be intelligent engineering and innovation which can turn that ambition into a reality for the Middle East.
2) Oil and gas is here to stay
The IEA does not expect oil demand to peak until the mid-2030s, and Middle Eastern oil and gas will be with us for decades to come. But that doesn’t mean huge change isn’t underway for the sector. So, at ADIPEC 2023, when we say Decarbonising. Faster. Together. That also means creating a more sustainable and efficient oil and gas sector and progress is well underway in this respect.
Due to the growing importance being placed on minimising carbon intensity. Operators are now more open to alternative methods, such as deploying modular platforms installed with jack-up rigs for increased efficiency and time to first-oil and employing riser analysis techniques honed in environments such as the North Sea.
Our Sea Swift offers an offshore platform which can aid operators as they seek more cost and carbon effective approaches to oil and gas production. Underpinning this with our comprehensive riser analysis service can play a key role in supporting the region’s decarbonisation goals and we’re looking forward to discussing this at ADIPEC 2023.
The region is also getting to grips with a rising number of brownfield projects reaching the end of their expected lifespan over the next few years. By maximising the lifespan of existing sites, the need for new ones can be minimised, providing a dual benefit of reduced costs and emissions. We have built up a significant amount of experience from working on brownfield projects in the North Sea and around the globe, and are ready to provide this to Middle Eastern operators as the next generation of assets reaches end of life.
3) There is a dual transition in working practices
In this new landscape, it is more than just the energy sources that are changing. Operators in the region are increasingly willing to lean on global supply networks, specifically for offshore projects, where the cross pollination of expertise and technology can be invaluable. The international attendance at ADIPEC 2023 will be validation of this.
We have first-hand evidence of this shift in recent years, through securing a number of contract wins within the region. However, success in the Middle East requires more than just engineering knowledge and expertise. Those service companies that will find the most success in the region, will be those that are committed to providing local content, working to upskill local workforces and with an understanding of the region’s own energy landscape.
As part of our most recent win in the region, a multi-million-pound contract with a major Abu Dhabi based operator, we are working closely alongside in-country partners to manufacture and transport project equipment, while also providing thousands of hours of local employment for the region, as well as opportunities for upskilling and knowledge sharing. This approach stands us in good stead to meet the requirements and expectations of local operators, while also ensuring significant carbon savings through minimising transportation and travel costs, tying in with the wider decarbonisation goals of the region.
There is no doubting that this is an exciting time for the Middle East. As the team attends ADIPEC 2023, we expect to discuss a wide range of topics across CCS, brownfield engineering, decommissioning, green hydrogen, platforms, renewables, and riser analysis, to name a few. This shows the vibrancy and excitement of the energy sector within the region, and we are excited to play our part and build on the recent success in delivering project for our Middle Eastern customers.
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