Oil Majors Seek Sustainable Power for North Sea Projects
According to a letter sent by BP to the Norwegian Ministry of Petroleum and Energy, the majors propose a connection to the grid by a 300-km-long subsea cable that would power BP’s Eastern Trough Area Project, Shell’s Shearwater development, and Total’s Elgin-Franklin development.
The letter indicated that the cable could be operational by 2023. BP, which has stated a goal of achieving a net-zero emissions status by 2050, said that the installations would require 100–200 MW in power capacity from the grid. Required investments were estimated at $760 to $977 million.
While several Norwegian platforms on the continental shelf are connected to the onshore grid, the letter marks the first such effort on behalf of foreign-operated platforms. The proposal follows an announcement last December that Norwegian energy firm BKK planned to build an offshore power grid in the North Sea in a $2-billion project to help the country's industry cut greenhouse gas emissions.
The initiatives echo an industrywide search for more-sustainable power sources and a reduction in carbon emissions driven by global concerns about climate change.
Oil-Production Costs Reach New Lows, Making Deepwater One of the Cheapest Sources of Novel Supply
In an updated projection, Rystad said that a breakeven of only $50/bbl is needed to produce 100 million BOPD in 2025, reflecting the reduction in oil-production costs.
TechnipFMC Joins Breidablikk Development With EPCI contract
The EPCI contract for the Breidablikk development includes provision of flexible jumpers and rigid pipelines as well as pipeline installation work. About 70% of the value creation in the Breidablikk development phase is expected to go to Norwegian companies.
Siemens Energy To Supply Equipment for Mozambique LNG
The LNG project includes development of offshore gas fields in Mozambique’s Area 1 and a liquefaction plant with a capacity in excess of 12 mtpa. The gas turbines are slated for delivery in 2H 2021 and 1H 2022, and the compressors are expected in 2021.
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08 October 2020
09 October 2020
09 October 2020