Home Fossil Energy MODEC and Altera: Marrying FPSO tech with renewable and low-carbon plays to shape energy transformation beyond oil & gas
Given the rising expectations about oil and gas, especially liquified natural gas (LNG), being in demand even after 2050, entwining innovation and technology arms is increasingly being recognized as the right recipe to not only unleash untapped low-carbon barrels but also unlock the gates of green power. Japan’s MODEC and the UK-based Altera Infrastructure have set their caps on addressing the pressing challenges of the energy transition era by accelerating the shift toward a more sustainable future while supporting the security of power supply.
Jun Zhu, Senior Concept Designer at Altera Infrastructure, presents next-generation FPSO; Credit: Nadja Skopljak/Offshore Energy
The offshore energy industry and its supply chain are upping their decarbonization ante as the demand for hydrocarbons continues to run unabated against the backdrop of energy cost hikes, escalating geopolitical tensions, increasing population growth, and many other challenges the world is facing on its mission to reach net zero aspirations and pivot to the greener side of the energy equation.
Japan’s floating offshore oil and gas industry solutions provider is determined to lend oil and gas operators a helping hand in ensuring a stable and sustainable energy supply through reliable operations and continuous improvement of offshore facilities’ asset integrity with lifecycle value maximization through the deployment of digitalization and emerging technologies to ramp up production and curb greenhouse gas (GHG) emissions footprint.
Floating offshore wind and hydrogen on MODEC’s decarbonization playlist
While diving into the opportunities and challenges stemming from low-emission initiatives within the FPSO market and wider energy industry during an event in Norway, Boyd Howell, Director of Business Development at MODEC, highlighted the Japanese player’s plans to focus on minimizing carbon emission intensity, as part of the path to net zero by 2050.
Boyd Howell, Director of Business Development at MODEC presents innovation in the FPSO sphere during the energy transition era; Credit: Nadja Skopljak/Offshore Energy
MODEC has found that the lion’s share of carbon emissions, around 65%, arises from power generation, with flaring taking about 8-10%, thus, it is determined to tackle power generation issues. Recently, the firm and JGC Corporation finished a project designed to measure and quantify emissions of methane and other greenhouse gases from two FPSOs off the coast of Brazil.
-
Posted: 3 months ago
Furthermore, MODEC has already bolstered its digitalization moves and is looking at floating offshore wind, as another tool in its decarbonization toolbox. Howell highlights that MODEC will not necessarily work on developing a large offshore wind farm but is interested in putting a couple of turbines to good use.
Aside from eyeing renewables, the floating production solutions provider is also keeping an eye on other low-carbon options, such as hydrogen, to combine them with the innovation in FPSO technology.
-
Posted: about 1 month ago
A week ago,