Singapore's Minister of State, Alvin Tan, announced a SGD$100 million ($74 million) government investment to boost green growth in the marine and offshore energy sector over the next five years at OSEA 2024. The three-day tradeshow attracted over 500 exhibitors and 15,000+ attendees from 100 countries.

Tan emphasised Singapore's commitment to becoming a greener economy, with a goal of achieving net-zero emissions by 2050.

He announced a new SGD$100 million support package for marine and offshore engineering companies, aiming to foster partnerships and adopt solutions in growth areas such as offshore wind, floating storage, and digitalisation.

The conference also highlighted the urgent need to accelerate the energy transition and foster global collaboration.

Speakers stressed the need for faster adoption of transformative technologies, such as carbon capture and storage (CCS), alternative fuels, and digital innovations for automation and efficiency.

The industry's need to decarbonise and change brought unprecedented challenges and opportunities, with companies like Seatrium discussing initiatives on new fuels, CCS, and cleaner offshore production for marine decarbonisation.