According to an analysis conducted by Imperial College London for Drax Electric Insights, the UK's wind farms have reached 28.9 gigawatts (GW) of capacity, overtaking combined cycle gas power stations, which have 28.7 GW of capacity.

This coexistence is considered feasible and valuable for both oil and gas and renewables in Norwegian waters, despite the challenges involved.

Arne Gurtner, Senior Vice President UK & Ireland at Equinor, emphasized the value of the company's knowledge in deploying floating wind infrastructure to generate power for offshore oil and gas platforms.

Vårgrønn and Flotation Energy have formed an offshore wind partnership aimed at decarbonising the oil and gas industry in Scotland.

A new agreement signed between an oil and gas operator and a green energy and infrastructure developer will see the creation of one of the UK’s first wind-powered oil and gas production facilities.

Green energy infrastructure developer Cerulean Winds has revealed it will bid for four seabed lease sites with a combined capacity of 6 GW of floating wind to decarbonise the UK’s oil and gas sector under Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) leasing round.

The transition to renewable energy is not without its challenges, but today’s markets are increasingly shifting in response to it. Understanding the massive swings in energy supply and demand taking place will enable oil and gas traders to confidently plan for the years ahead, especially as capital allocations shift in response to market signals.

Offshore wind spending is nearing that of offshore oil and gas and is anticipated to surpass it in several key markets by 2030, Rystad Energy said, with Europe being the first to count more offshore wind than oil and gas investments, followed by Asia (excluding China) and the US.

Equinor, Shell, and TotalEnergies – oil and gas players that continue raising their stakes in the renewable energy sector – have been selected by the French government to participate in the country’s first tender dedicated to floating wind.

Crown Estate Scotland, which is currently reviewing the ScotWind Leasing Round applications, will open a new leasing process early next year, dedicated specifically to offshore wind projects which support the decarbonisation of the oil and gas sector, and to small-scale innovation projects of less than 100 MW.