OPINION | Finding offshore energy opportunities in volatile times

Despite aging fleets, current market dynamics do not support a newbuild cycle. Instead, operators and service providers must extend asset life and improve operational efficiency. Key growth markets for offshore energy services between 2025 and 2029 include Saudi Arabia, Qatar and Brazil, with additional prospects in East and West Africa, Southeast Asia, and the Mediterranean.

Offshore wind: growing pains in maturing sector

Offshore wind has grown rapidly over the past decade, but 2025 marks the first time the sector has faced significant challenges. Forecasts have been downgraded, and many government targets are now unlikely to be met.

The focus has shifted from rapid expansion to delivery, de-risking, and positioning for future growth. Higher-risk ventures, such as floating wind, are losing momentum. Developers must adopt strategies that manage uncertainty more effectively.

Outside mainland China, Europe is expected to lead offshore wind growth, achieving more than fivefold expansion over the next decade. Asia also represents a key future market. Investment is set to ramp up significantly across geographies and developers, despite current setbacks.