- Offshore oil and gas facility to be supported by floating wind Turbines.
- Between £80 to £100 million are anticipated to be invested in the project’s development.
An offshore oil and gas facility will receive wind electricity from a floating turbine thanks to an agreement between exploration and production company Ping Petroleum Ltd UK-based Cerulean Winds. A big floating wind turbine from Cerulean Winds is supposed to be connected to Ping Petroleum’s Floating Production & Storage vessel at the Avalon location in the UK Central North Sea via a cable as part of the plan.
According to the announcement, between £80 million and £100 million is anticipated to be invested in the project’s development and the UK’s renewable energy supply chain. The scheme is supported by a grant which Cerulean Winds secured under the Floating Offshore Wind Demonstration Programme from the Department of Business, Energy and Industrial Strategy (BEIS).
The infrastructure developer did not mention the exact size of the wind turbine that will be provided but noted that its output is most likely to exceed the energy needs of the production vessel. For this reason, the partners are exploring options to supply the excess power to other nearby production facilities.
“The creation of an additional revenue stream via the supply of excess energy to nearby facilities will positively contribute to our financial performance,” commented Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, Group Managing Director of Dagang NeXchange Bhd, which is the parent company of Ping Petroleum. He added that the project will provide the group with experience and exposure to the relevant markets and stakeholders within the renewables industry that “may lead to strategic business developments ahead.”
Ping Petroleum and Cerulean Winds signed a deal for the Avalon project during a meeting hosted by Secretary of State Kwasi Kwarteng.
“Platform electrification projects such as this are a welcome step forward to reduce emissions from oil and gas production, secure jobs and new skills and deliver on the commitments of the landmark North Sea Transition Deal,” Kwarteng said.