SVP project development
Power generation is responsible for 60–80% of the 1.6 giga-tonnes of CO2 emitted by the upstream oil & gas industry annually. Whilst governments and industry focus on electrification as the route to offshore decarbonisation, infrastructure constraints are likely to preclude full adoption.
Carbon capture and storage (CCS) is a viable alternative to electrification for (1) stand-alone oil & gas developments, and can also enable electrification through development of (2) offshore low-carbon “gas to power” hubs.
BW Offshore is developing concept designs (1 & 2) based around FPSOs with integrated CCS, which are expected to achieve field life CO2 emission reductions of 80 – 85%, equivalent to reductions of around 1 million tonnes CO2e/year for a 300 MW installation. With levelized cost of CO2 capture at <US$40/tonne – >50% prevailing EU emissions tax – these solutions are highly competitive.
Identified as a Lower Emissions Oil and Gas Solution (LEOG). Use company contact for detailed value proposition.