Offshore Work is the activities and operations that takes place at sea, and activities in bay, in inland or in inland sea directly connected to an ocean. The Offshore Work includes transportation of people and equipment from shore to the offshore location, either by vessel or helicopter.
Related Definitions in the Project: The Upstream Engineering; Project; Construction
Example Article of the Offshore Work:
Offshore Oil And Gas Is Back With More Than $200 Billion In New Investment (Source: Oil Price on 7 March 2023): The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) will break the $100 billion threshold in 2023 and in 2024 – the first breach for two straight years since 2012 and 2013. As global fossil fuel demand remains strong and countries look for carbon-friendly production sources, offshore is back in the spotlight. Offshore activity is expected to account for 68% of all sanctioned conventional hydrocarbons in 2023 and 2024, up from 40% between 2015-2018. Comparisons against this period are prudent as it predates the Covid-19 pandemic and related oil price crash. In terms of total project count, offshore developments will make up almost half of all sanctioned projects in the next two years, up from just 29% from 2015-2018. …
