Kerogen, Ideol Mull Green Power for Rigs

Private investor Kerogen has signed a memorandum of understanding with floating wind-power specialist Ideol to assess the benefits of using offshore wind to power oil and gas platforms, the two said May 13.

Most run now on diesel or gas, which emits more carbon in the short term and the focus is on net-zero carbon by 2050. The UK upstream regulator Oil & Gas Authority has warned that the social licence to operate could be forfeit unless producers of oil and gas did their job more cleanly. 

Kerogen has an extensive international offshore oil and gas expertise and network that could benefit from the substitution of hydrocarbon-powered generators with floating wind systems. For example it is co-owner with Energean of licences offshore Israel.

Kerogen said it was  "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."

Ideol said its technology could be used to "develop additional and increasingly relevant value-added solutions. We will benefit from Kerogen’s deep knowledge of the offshore oil and 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.”