Offshore Europe 2025 comes at a pivotal time for the North Sea, chairman says

By David Whitehouse, CEO of Offshore Energies UK and Chairman of the SPE Offshore Europe 2025 Executive Committee

SPE Offshore Europe 2025 arrives at a moment when across Europe, the future of offshore energy is being debated more intensely than ever. Governments, industry leaders and the general public are focusing on how best to balance energy security and affordability while delivering on climate commitments.

Returning to Aberdeen this week, Offshore Europe 2025 is a rallying point, bringing together the people, ideas and ambition needed to secure a future that is grounded in energy reality. The conference theme, “Unlocking Europe’s Potential in Offshore Energy,” reflects a deliberate focus on collaborative action across borders and industries.

Our industry is not standing still. It is transforming, investing in innovation, lowering emissions, developing the low-carbon technologies of tomorrow. Over 60 years, our highly skilled people have developed the technical knowledge, built energy infrastructure and evolved an extensive supply chain network that will be critical to delivering the UK’s low-carbon future. To power a modern industrial Britain, our people and businesses need secure, affordable and lower-carbon domestic energy.

But that transformation is not without challenges. The UK imports a record 40% of its energy, with policy decisions, not geology, driving an accelerated decline in North Sea oil and gas production. In a volatile world, this is the wrong path.

Rebuilding confidence in UK offshore oil and gas

The UK will require the equivalent of 15 billion barrels of oil and gas to meet demand through to 2050, yet on current trajectories we are set to produce less than one-third of that.

The Energy Profits Levy—introduced as a direct response to the increase in global oil and gas prices, particularly during Russia’s invasion of Ukraine in 2022—was intended to be temporary. Windfall profits have gone, yet the policy remains. It is now undermining investment, accelerating job losses and stalling supply chain growth. We need to move from short-term-ism to a long-term industrial strategy.

Stable fiscal conditions, clear regulatory signals and the political will to back domestic production are essential. Constructive steps to help bring positive change would include replacing the current windfall structure with a progressive, profit-based model. This would restore investor confidence and protect jobs in energy-intensive regions across the UK. With a stable and investment-friendly fiscal regime, we have the potential to unlock £200 billion (US$270 billion) in private capital, not just for oil and gas but across the energy mix.

Building out renewables while maintaining industrial capability

The pragmatic path to a low-carbon future is about supporting both domestic oil and gas and renewables, which polls suggest the British public understands. We still need oil and gas while we grow wind, solar and other renewables. Not making the most of our homegrown oil and gas just means we become increasingly reliant on imports. Imported oil and gas supports fewer UK jobs, generates less tax revenue and is often produced with higher emissions than our domestic supply.

The offshore sector is already driving decarbonization, through electrification projects, carbon capture and storage (CCS), and the buildout of offshore wind and hydrogen projects. Our North Sea expertise means we have cut emissions from oil and gas production by 28% since 2018. 

Offshore Europe 2025 will spotlight solutions, transitioning from talk to delivery. The same supply chains, engineering expertise and infrastructure that deliver our oil and gas today are also building the offshore wind farms, carbon storage projects and hydrogen networks of the future. 

At the conference, we can explore how we can ramp up the momentum and continue building out the UK supply chain companies that are supporting CCS, floating wind and hydrogen technologies.

Energy as a strategic asset, not a liability

North Sea oil and gas are strategic economic assets. If we recognize them as such, we can unlock an additional £165 billion (US$222.7 billion) for the UK economy. We are proud to make a huge contribution to the UK economy. Since 1970, the sector has paid almost £450 billion (US$607.6 billion) in production taxes—a critical revenue stream for public services and infrastructure. We are already at the heart of the UK’s CCS plans, which will retain heavy industry and prevent de-industrialization masquerading as decarbonization. 

Communities from Grangemouth to Teesside, from Humber to Merseyside, all play vital roles in delivering UK energy. Every lost investment opportunity or delayed project sends ripples across regions, putting thousands of livelihoods at risk.

Offshore Europe 2025 will serve as a rallying point for positive, future-facing discussion. Through honest debate, informed by facts and driven by action, we can build a more balanced and constructive narrative around offshore energy’s future.

A rallying cry for the future of our industry

Free-to-attend Offshore Europe 2025 will welcome tens of thousands of attendees across its four days. The event will host more than 90 technical presentations from 18 countries and feature strategic panel sessions, fireside conversations with international leaders and a renewed focus on the next generation of energy professionals.

To succeed in building the low-carbon economy of tomorrow, we must retain and develop our existing skilled workforce and inspire the next generation to bring their digital fluency, diverse backgrounds and innovative solutions to the energy challenge. We need to showcase the dynamic careers in energy—both oil and gas and renewables—to ensure we have the workforce to meet our climate and energy security goals.

Offshore Europe 2025 comes with calls to action:

• To the UK government: now is the time to back homegrown energy.
• To industry leaders: let Offshore Europe 2025 be your platform to lead. 
• To everyone who believes in a strong, sovereign, sustainable UK energy future: make your voice heard.