Page 47: of Marine Technology Magazine (November 2019)

Image: Equinor)

Equinor’s Hywind Tampen project will use ? oating wind turbines to provide power to the Snorre and Gullfaks oil and gas production facilities.

value over cost, the report suggests, though this will require and low-carbon technologies (such as carbon capture and stor- operators and services ? rms to adjust their mindset. age, subsea gas compression, ? oating wind farms, electri? ca-

Companies now believe it is critically important share their tion, etc) by 2030.

experiences of the deployment of new technologies, collabo- rate on developments and piloting, and engage more closely A lot of hydrocarbons with the supply chain to reduce risk and the length of project In October 2019, the mega Johan Sverdrup ? eld began pro- timelines, the report found. duction more than two months ahead of schedule and NOK 40

The PwC and Oil & Gas UK report also predicts an in- billion ($4.4 billion) below original estimates, thanks in part creased focus on technological and business model innovation to innovative technologies and collaborative methods led by to drive the next wave of competitiveness given operators and operator Equinor alongside partners Lundin, Total, Aker BP service companies have perhaps cut costs as far as is sustain- and Petoro.

ably possible. New ideas, such as Equinor’s Hywind Tampen The largest development in Norway for three decades, the project, for instance, will help deliver the energy transition. ? eld is expected to produce for more than 50 years, tap-

In the Norwegian sector of the North Sea, the Hywind Tam- ping expected recoverable reserves of 2.7 billion barrels of pen project will see 11 ? oating wind turbines deployed as to oil equivalent. Once full ? eld production is underway, Johan replace gas turbine power for the Snorre and Gullfaks oil and Sevrdrup will be able to produce up to 660,000 barrels of oil gas production facilities. per day at peak. Simply put, that’s a lot of hydrocarbons. But,

Other emissions cutting solutions such as electri? cation of leveraging electricity power from shore, the ? eld has record- production assets and unmanned platforms are also high on low CO2 emissions below 1 kilogram per barrel – demonstrat- the agenda, including that of Norway’s largest oil? eld services ing the importance of technological innovation toward the en- company Aker Solutions, who announced in October that it ergy transition, and how the oil industry still has work to do aims to generate half of its revenue from renewable energy and an important role to play.

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