Invest globally, says energy expert
North Sea offshore investment is reaching all time highs but there is limited capacity to invest to meet demand, according to a speaker at today's annual NOF Energy conference.
Specialist Isabel Boira-Segarra of consultancy EC Harris, was speaking at the Energy: A Balanced Future event in Newcastle, England.
She said: "For companies looking to participate in the energy sector, oil and gas will remain the top player followed very much by offshore wind and nuclear and marine technology in general.
"You have got to prioritise oil and gas for the next five years and gain positions for backing other marine technologies going forward. Really for projects you think will gain final investment decision and go forward that will allow you to get the investment.
"Don't just focus on the UK, the markets are large and across other geographies. Look at these sectors from a global perspective.
"There is a lot of opportunity. Prepare your strategy and position in relation to some of these technologies coming through such as shale , which are making us consider what our resources are.
"Position your business for capital spend growth outside the UK and emerging economies and importantly look at this as a long term opportunity. The sector is going to grow in the long term.
"This sector is up an going to grow. But we are moving to a different world because big utilities who do the big projects (in renewables) are going to have to look for external finance so going to have to look to do things in a different way and I think this will be a big issue."