Lundin Energy Norway is collaborating with Ocean Harvesting Technologies on a study into how installing wave energy converters could deliver clean, stable and profitable electricity to an offshore oil and gas platform.
April 28, 2021. In a future aligned on a 2-degree trajectory, oil still plays an important role and should represent around 23% of the global energy mix in 2040, against 31% today. But to meet both future energy demand and climate goals, it is essential to decarbonize oil and gas production as much as possible.
Lundin Energy’s carbon intensity per barrel of oil produced is around one-sixth of the global industry average, and the company will be one of the first oil and gas companies to achieve carbon neutrality starting in 2025.
To achieve carbon neutrality for all operational emissions, Lundin Energy Norway focuses primarily on the decarbonization of mining and production activities. Company Collaborates with Ocean Harvesting Technologies on New R&D Study into How Installing Wave Energy Converters Could Potentially Provide Clean, Stable, and Profitable Electricity to an Oil and Gas Platform offshore.
The one-year project will run until February 2022 and will provide valuable data and information on how to electrify major offshore operations with wave energy, as well as place Ocean Harvesting Technologies and Lundin Energy Norway at forefront of decarbonising oil and gas production. in support of the transition to a more low-carbon and sustainable energy future.
Kristin Færøvik, Managing Director of Lundin Energy Norway, said:
“Lundin Energy Norway is a leader in decarbonization. Our assets are already very efficient and low carbon. However, the challenges for the wider sector in decarbonizing production can be significant, especially offshore. We are therefore delighted to be working with Ocean Harvesting Technologies to identify new ways to power offshore activities with their innovative wave energy converter solution.
Mikael Sidenmark, CEO of Ocean Harvesting Technologies, said:
“This case study, aimed at developing a specification and system design for a wave power installation on an oil and gas platform, will provide valuable input to Ocean Harvesting Technologies to better understand the requirements of such a facility.” . The project will guide us through the first stages of validating our commercialization. We are very happy to have the opportunity to work with Lundin Energy Norway on this project.
Source: Ocean Harvesting Technologies