Our world is simultaneously facing multiple energy imperatives, ranging from a growing push for the energy transition at a time of increased demand, new energy security issues and tremendous pressure on costs.

With more than 70% of conventional hydrocarbon discoveries made offshore in the last 10 years, the offshore sector will play a key role in the energy transition, but this will not happen without new technologies. Over the years, technology innovation has enabled numerous efficiency gains in offshore exploration and development. Conventional electrohydraulic technologies have served the industry well and will continue to do so where appropriate. But they are clearly reaching their technical and practical limits. New all-electric technologies are extending the realms of possibility and opening new frontiers.

Electrification of the entire production chain is a major technological advancement that is now becoming a reality. It will enable the industry to improve offshore performance compared with hydraulic systems while reducing both costs and the carbon impact.

The benefits of electrification are presented, together with concrete examples of what already exists and what is to come from a system perspective—encompassing completion, subsea production systems, subsea processing, topside infrastructure, and the associated digital environment.