A private-equity firm with stakes in North Sea firms has pledged to explore using floating offshore wind to power oil platforms.
Kerogen Capital, which has a sizeable stake in Hurricane Energy and owns Zennor Petroleum, has entered into a memorandum of understanding with another of firm in its portfolio to “assess the benefits”.
Hong-Kong-headquartered Kerogen hopes to combine French firm Ideol’s “technically proven” floating offshore wind solution with the oil and gas “expertise” in its network.
Kerogen managing partner Jason Cheng said: “We are committed to reducing the carbon footprint of our portfolio companies and the broader oil and gas industry through proven technologies.
“In addition to decreasing the greenhouse gas emissions, powering oil and gas platforms with offshore wind could offer commercial benefits such as increasing available sales volumes and reducing fuel operating costs.
“Teaming up with Ideol offers a combination of our respective expertise in upstream oil and gas and offshore wind to assess power to platform opportunities, starting with long-life projects in the North Sea area.”
Paul de la Gueriviere, CEO of Ideol, said: “As already demonstrated with the development of the world’s first market-ready floating electrical substation, Ideol’s internationally recognized expertise in floating offshore wind can be leveraged to develop additional and increasingly relevant value-added solutions.
“We will benefit from Kerogen’s deep knowledge of the offshore oil & gas markets which will undoubtedly help us bring innovative products and services to the market.
“At the same time contribute to meeting the environmental and financial objectives of platform operators.”