Offshore

Working offshore means that you have a job outside your home country. You may get paid in the local currency and are usually subject to local labor laws. For instance, you are considered to be working offshore if your company opens an office in another country and moves you to that location.

Onshore means that business activity, whether that's running a company or holding assets and investments, takes place in your home country. Going offshore, on the other hand, means these activities take place in another country, location, or jurisdiction.

Offshore

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Offshore accounts are perfectly legal, as long as they are not used for illicit purposes. But keep in mind, though, that hiding your offshore assets is illegal. This means you must report any and all offshore accounts you hold to your country's taxing authority.

Offshore trading involves opening and maintaining a brokerage or trading account with an offshore investment firm. These accounts are generally opened in the name of a holding company rather than an individual. Trading this way provides investors with favorable tax treatment, which puts more money back into their pockets.

The Maine Offshore Wind Roadmap is a stakeholder-driven comprehensive plan that offers detailed strategies for Maine to realize economic, energy, and climate benefits from offshore wind, in conjunction with communities, fisheries, and wildlife of the Gulf of Maine.

The OWYA Program is comprised of three interactive lessons designed to engage middle- and high-school-aged students in the transformative world of offshore wind. Classroom teachers, club leaders, extracurricular educators, and internship program managers can implement OWYA to fit the unique needs of their groups. Young people can also participate in the program independently.

Development of the OWYA program kicked off with a public Listening Session on November 5, 2020. The webinar brought together leaders, activists, and advocates working at the intersection of youth leadership and environmental justice to explore the role of youth leadership in advocating for a just transition to a clean energy economy, including the development of offshore wind. Watch the full recording here.

Each year, OTC recognizes individuals and companies that have made outstanding achievements to the offshore E&P industry. The Distinguished Achievement Awards provide OTC's top honors.

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The content and links below lead to the 2016 release of the National Offshore Wind Strategy: Creating an Offshore Wind Energy Industry in the United States. This strategy is superseded by the 2022 release of the Offshore Wind Energy Strategies and the 2023 release of Advancing Offshore Wind Energy in the United States, U.S. Department of Energy Strategic Contributions Toward 30 Gigawatts and Beyond. The 2022 report laid out the challenges that needed to be addressed to accelerate offshore wind deployment, while the 2023 report is the first agency-wide strategy that details how DOE can address these challenges and help meet the 30 GW by 2030 deployment target.

Offshore wind energy holds the promise of significant environmental and economic benefits for the United States. It is an abundant, low-carbon, domestic energy resource. It is located close to major coastal load centers, providing an alternative to long-distance transmission or development of electricity generation in these land-constrained regions. Once built, offshore wind farms could produce energy at low, long-term fixed costs, which can reduce electricity prices and improve energy security by providing a hedge against fossil fuel price volatility. DOE has supported a broad portfolio of offshore wind research, development, and demonstration projects since 2011.

Realizing these benefits will require overcoming critical challenges in three strategic themes: 1) reducing the costs and technical risks associated with domestic offshore wind development, 2) supporting stewardship of U.S. waters by providing regulatory certainty and understanding and mitigating environmental risks of offshore wind development, and 3) increasing understanding of the benefits and costs of offshore wind energy.

In 2016, the U.S. Department of Energy, through its Wind Energy Technologies Office, and U.S. Department of the Interior, through its Bureau of Ocean Energy Management, released this jointly-produced national strategy to facilitate the responsible development of offshore wind energy in the United States.

OPC is seeking applications to develop comprehensive environmental monitoring guidance for offshore wind development in California. The primary goal of this guidance document is to provide a clear and practical resource for regulators, developers, and other stakeholders involved in offshore wind projects in California to ensure that environmental impacts of offshore wind development are properly monitored, evaluated, and mitigated throughout the project lifecycle.

In 2017, the U.S. Department of Agriculture (USDA) Animal and Plant Health Inspection Service (APHIS) Plant Protection and Quarantine (PPQ) and the U.S. nursery industry worked together under a pilot program to determine whether greenhouse certification can effectively mitigate pest and disease risks associated with generally admissible unrooted plant cuttings produced in offshore facilities. The pilot demonstrated that growing plants in certified greenhouses under a systems approach can effectively mitigate most pest risk offshore, safeguarding American agriculture and natural resources.

Diamond Offshore Drilling, Inc. is a leader in offshore drilling, providing contract drilling services to the energy industry around the globe with a total fleet of 12 offshore drilling rigs, consisting of 8 semisubmersibles and four dynamically positioned drillships.

BSEE leads the development of workplace safety and environmental compliance strategies for offshore renewable energy projects on the Federal OCS. BSEE currently has an interdisciplinary team of technical, inspection, and policy experts tasked with our renewable energy mission. BSEE has engaged and is utilizing its existing expertise, and applying that expertise and experience to the growing offshore renewable energy industry.

The California Energy Commission (CEC) presented an offshore wind energy symposium, featuring a U.S. Department of Energy Interactive Workshop, to discuss the efforts necessary to advance floating offshore wind, learn about the international experience, and identify what it will take to make the first floating offshore wind projects successful.

The symposium started with an interactive workshop presented in collaboration with the U.S. Department of Energy on the Floating Offshore Wind Shot with topic focused breakout sessions providing an opportunity for participants to provide feedback on floating offshore wind R&D, transmission, and development needs.

During the symposium, state and federal leaders, along with the winners of the BOEM PACW-1 lease auction discussed the key challenges ahead with developing floating offshore wind in California and share perspectives and immediate priorities to responsibly developing an offshore wind industry.

The Title XI statute was amended in 2019 to add the authority to designate Vessels of National Interest. Such a designation informs and encourages shipbuilders and shipowners that DOT/MARAD will prioritize and expedite applications for loan guarantees for offshore wind related vessels.

This announcement follows the White House meeting with 11 governors from the East Coast to announce the new Federal-State Offshore Wind Implementation Partnership that will accelerate the growing offshore wind industry. According to the White House, these bold actions have unleashed historic private sector investments to expand an American-made wind energy supply chain.

BOEM is working on refining its process for identifying additional Wind Energy Areas (areas that may be suitable for offshore wind energy leasing). More specifically, BOEM is developing clear goals, objectives, and guidelines that can be shared with government agencies, Tribes, industry, ocean users, and others prior to identifying such areas. In addition, BOEM will use the best available science as well as knowledge from ocean users and other stakeholders to minimize conflict with existing uses and marine life.

In addition to identifying new offshore wind lease sales, BOEM is considering innovative lease stipulations consistent with the goals and objectives of the Outer Continental Shelf Lands Act, such as lessee reporting requirements on efforts to minimize conflicts with other ocean users; mechanisms for project labor agreements; and investments in the U.S. domestic supply chain. Such stipulations were included in the New York Bight Proposed Sale Notice announced in June of this year.

The Biden-Harris administration has made significant progress to spur responsible offshore wind development, which is driving the establishment of a robust domestic supply chain and the creation of resilient clean energy that will combat climate change and create good-paying jobs. BOEM completed its review of a Construction and Operations Plan (COP) for the Vineyard Wind project earlier this year, and is currently reviewing nine additional COPs with plans to complete the review of at least another six by 2025, for a total of at least 16 COP reviews representing more than 19 GW of clean energy.

The U.S. Bureau of Ocean Energy Management (BOEM) will hold its offshore wind energy lease sale for areas on the Outer Continental Shelf off the central and northern coasts of California on Dec. 6, 2022. The lease sale is also the first-ever U.S. sale that could support commercial-scale floating offshore wind development.

California has set ambitious planning goals for California offshore wind development of 2-5 GW of offshore wind capacity by 2030 and 25 GW by 2045. Last month, Governor Newsom signed the California Climate Commitment, a record $54 billion investment in climate action, including establishing a state goal of 90% clean electricity by 2035. 006ab0faaa