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Wind's $168 Billion North Sea Boom Lures Oil Industry: Energy

Yahoo -- Oil service companies led by Technip SA (TEC) and Subsea 7 SA (SUBC) for the first time are working with wind energy developers in the North Sea's 14 billion-euro ($18.5 billion) a year market.

The offshore engineers plan to exploit the similarities between building undersea oil installations and constructing offshore wind farms and have both established renewable energy units. Petrofac Ltd. (PFC) also offers expertise to wind developers in the North Sea, where fossil fuels first discovered in 1966 are being depleted as clean energy demand rises.

"The synergies available between offshore wind and oil and gas are most apparent in the North Sea," said Jayesh Parmar, a London-based consultant at Baringa Partners LLP. "It makes sense here to be operating in both areas."

The move into ren

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Submitted May 01, 2012 By: mastermariner

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MidNJ Champion Author New Jersey Posts:7,686 Points:1,197,290 Joined:Sep 2009	Message Posted: May 1, 2012 7:56:47 PM Ignore MidNJ Report Abuse As oil becomes scarce in the North Sea, wind farm energy seems like a great move.
ktbaeohana Champion Author Las Vegas Posts:2,412 Points:442,125 Joined:Mar 2010	Message Posted: May 1, 2012 4:39:44 PM Ignore ktbaeohana Report Abuse good news.
BobBG All-Star Author Albany Posts:823 Points:828,845 Joined:Nov 2005	Message Posted: May 1, 2012 3:25:50 PM Ignore BobBG Report Abuse Sounds like a good idea to me.
peakkeller Champion Author Colorado Springs Posts:1,754 Points:790,950 Joined:Dec 2009	Message Posted: May 1, 2012 3:17:45 PM Ignore peakkeller Report Abuse Interesting
gizbo123 Champion Author Los Angeles Posts:1,596 Points:1,777,650 Joined:Dec 2005	Message Posted: May 1, 2012 1:45:57 PM Ignore gizbo123 Report Abuse LOL, you can't find white golf balls in snow unless it is yellow of course.
qwerty17 Champion Author New Jersey Posts:3,760 Points:1,143,275 Joined:Oct 2009	Message Posted: May 1, 2012 1:36:03 PM Ignore qwerty17 Report Abuse unless trump finds out about it. oh wait... he doesn't have any golf courses there so he won't care.
dsaine Champion Author North Carolina Posts:3,150 Points:659,220 Joined:May 2011	Message Posted: May 1, 2012 1:17:47 PM Ignore dsaine Report Abuse Interesting.
Cakes77 Champion Author Harrisburg Posts:5,285 Points:1,677,295 Joined:Aug 2006	Message Posted: May 1, 2012 12:47:15 PM Ignore Cakes77 Report Abuse Nice idea. It does get very windy over there.
fracknsave Champion Author Grand Rapids Posts:1,666 Points:58,000 Joined:Mar 2012	Message Posted: May 1, 2012 12:43:49 PM Ignore fracknsave Report Abuse If they say it, it must be true: "Petrofac Ltd. (PFC) also offers expertise to wind developers in the North Sea, where fossil fuels first discovered in 1966 are being depleted as clean energy demand rises." They are finding new oil and gas the world over, except the North Sea, sure.
jwkycola All-Star Author Columbia Posts:817 Points:550,850 Joined:Jul 2011	Message Posted: May 1, 2012 12:26:53 PM Ignore jwkycola Report Abuse OK
hoosierva Champion Author Indianapolis Posts:1,036 Points:492,970 Joined:Jul 2011	Message Posted: May 1, 2012 12:20:09 PM Ignore hoosierva Report Abuse I am envisioning a cluster of a mess.