The push for decarbonization has sparked interest in hydrogen as a clean energy source, with its production emitting only water if managed correctly. The article explores the complexities of offshore hydrogen projects, highlighting the preference for electrolysis powered by offshore wind for hydrogen production. Different methods of hydrogen production, such as green and blue hydrogen, are discussed, with green hydrogen produced from water electrolysis using renewable energy, while blue hydrogen is derived from hydrocarbons with CO2 capture. The article delves into risk factors associated with investing in hydrogen projects, categorizing them into technology, location, regulatory/environmental, and financial aspects. It emphasizes the importance of considering the impact of the location on the project's costs and operations, such as proximity to feedstock and end-users. Regulatory hurdles, like permitting requirements and subsidies, are outlined, with green and blue hydrogen projects often requiring government support to be economically viable. Additionally, the article stresses the significance of developing a quality front-end engineering design (FEED) package to ensure project fundability and success. In the offshore market, two approaches are being explored: central platform hydrogen production and integrating electrolyzers with wind turbines. Each approach presents unique challenges in infrastructure development and energy supply. Ultimately, navigating the complexities of offshore hydrogen production requires thorough planning, risk assessment, and adherence to regulatory standards to achieve successful and sustainable projects.