Equinor

The international Ocean Renewable Energy Action Coalition, spearheaded by Ørsted and Equinor, has been formed to advance sustainable deployment of ocean-based renewable energy and mitigate the harmful effects of climate change.

The plan will extend production of the largest field on the Norwegian Continental Shelf to 2040, while also deferring plans to decommission the Statfjord A platform. Statfjord A was originally scheduled to be decommissioned in 2022.

The company has launched new climate ambitions to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway by 40% by 2030, 70% by 2040, and to near zero by 2050.

Equinor has released its plan for eliminating carbon dioxide emissions in Norway by 2050, but it comes with some tall technical challenges.

As part of the contract, Wood will provide the topside modifications needed for the Snorre A and Gullfaks A platforms to integrate the Hywind floating wind park with existing systems powering the facilities. The platforms will be the first to receive electric power from floating wind turbines.

Offshore wind makes up less than 1% of the current energy mix, but analysts have it pegged as a potential trillion-dollar business in the near future. That growth presents an opportunity for operators to reduce costs and their carbon footprint through the electrification of their offshore platforms.

The new platform will be installed in the Peregrino Phase 2 development in the Campos Basin, approximately 85 km offshore Brazil, sometime in December. It is expected to come on stream in late 2020.

Before the dream of a “subsea factory” can come true, a group of North Sea companies will need to see if the required technology is economically feasible to build.

Spain’s Repsol will assume 100% interest in and operatorship of the joint venture as Equinor leaves the 9-year partnership.

In this video from Bloomberg, Eldar Saetre, chief executive officer and president of Equinor, talks about the company's increased push into the offshore wind power market.