An assessment of the potential of offshore wind power services market and opportunities for oil and gas service companies to 2030

Abstract

In the context of energy transition, major oil and gas companies (such as Total, BP, Equinor, Shell, Eni, Petronas, and Osted, etc.) have diversified their investment portfolios with new energy projects, including those in offshore wind power.
 Resolution No. 55-NQ/TW dated 11 February 2020 of the Politburo on the orientation of Vietnam's national energy development strategy to 2030, vision to 2045 sets the target: the proportion of renewables in the total primary energy supply will reach about 15-20% by 2030; and 25 - 30% by 2045. For wind power, priority should be given to development in accordance with the ability to ensure system safety with reasonable electricity prices; and formulation of supporting policies and breakthrough mechanisms for offshore wind power development in association with the implementation of the Vietnam Maritime Strategy.
 The paper focuses on assessing the potential market size for wind power services to 2030 and evaluating the possibility of diversification to include the offshore wind power supply chain of Petrovietnam’s service companies.