As the global energy landscape undergoes profound change, from shifting geopolitics and regulatory pressures to economic uncertainty and energy transition dynamics, the offshore sector finds itself at a pivotal crossroads. Amid this complex backdrop, one truth remains: resilience is about positioning ourselves to thrive beyond the storm.
Today, one of the most immediate pressures we face is the persistent low oil price environment. This is largely a consequence of sustained OPEC output, geopolitical tensions and global market oversupply, all of which are placing downward pressure on prices. For offshore operators and service providers alike, this creates a squeeze, particularly when navigating complex, capital-intensive developments.
Yet, paradoxically, we’re also seeing historic levels of investment in offshore deepwater projects, with significant activity ramping up in regions such as Brazil, Guyana, Suriname, the Gulf of Mexico, West Africa and Mozambique. These high-growth markets represent a compelling opportunity for those agile enough to capitalize on them.
EnerMech, for example, is deeply embedded in seven of the 10 most active global offshore markets, supporting large-scale FPSO and subsea infrastructure developments. By focusing on areas of highest investment and leveraging our full-lifecycle capabilities, we’re going beyond just staying competitive, by helping shape the future of the offshore industry.
However, success in this evolving landscape is far from guaranteed. One of the biggest structural challenges we must address is the offshore contracting environment. The growing reliance on lump-sum agreements places an unsustainable burden on the supply chain.
These risk-heavy models demand that contractors absorb logistical, operational and financial uncertainty; this is especially problematic in offshore settings where customs, mobilizations and resource deployment are inherently convoluted. Without meaningful reform, these dynamics risks marginalizing smaller, specialist players whose expertise is vital to delivery and innovation.
To navigate this, the offshore sector must shift towards more collaborative and risk-balanced models that reflect the realities of modern project execution. At EnerMech, we’re advocating for this refocus while continuing to invest in the regions and service areas where we can add the most value, particularly across subsea, pre-commissioning and FPSO integration.
Nowhere is this strategy more evident than in Guyana. Since the landmark Liza-1 discovery in 2015, the country has emerged as one of the most prolific deepwater frontiers in the world, with production accelerating from zero to over 600,000 barrels per day in under five years.
EnerMech has executed pre-commissioning on every FPSO deployed in Guyana to date, and we’ve established a strong local presence with ambitions to expand further into Suriname, Trinidad, Brazil and even West Africa. Our Guyana base is both a regional hub and a strategic launching pad into the next wave of global deepwater growth.
Looking ahead to 2050, our commitment is twofold: support the offshore industry in delivering new developments efficiently and maintain the integrity of critical infrastructure throughout its life-cycle. That’s why EnerMech’s overall strategy is built around three core business lines: Energy Solutions supporting the offshore market, Infrastructure & Industrial Solutions supporting the onshore market and Lifting Solutions, all engineered to meet the needs of clients across the asset life-cycle from initial design to decommissioning.
Whether we’re supporting Capex or Opex phases, our goal remains the same: deliver safely, sustainably, and at speed.
Finally, I’d be remiss not to highlight one of the most transformational changes within our own organization, the shift from a regional to a global business line structure. This evolution has allowed us to standardize our integrated in-house service delivery, accelerate mobilization and provide our clients with consistent, high-quality outcomes no matter where they operate. In a world where agility and reliability are everything, that realignment makes a difference.
The offshore energy industry may be facing headwinds, but the opportunities if we stay focused, collaborative and prepared to adapt, are immense. The road ahead will demand resilience, but it will also reward those bold enough to lead.
- Ruairi Kerr, Chief Commercial Officer, EnerMech