The owner of the Buzzard oil platform in the North Sea has ditched long-held plans to take electricity from Flotation Energy and Vargronn’s 560MW Green Volt floating wind farm off east Scotland.
CNOOC Petroleum Europe confirmed to reNEWS that it had been “unable to find an investible solution” to fully electrify the fossil fuel facility, which had been a key target for Green Volt ever since scoping documents were published for the array in 2021.
“CNOOC Petroleum Europe confirms that after thorough technical and economic review of options to electrify the Buzzard platform, we have been unable to find an investible solution in the current economic climate,” said a spokesperson for the China-based company.
“We are actively pursuing justifiable options to decarbonise the platform and remain committed to delivering on the North Sea Transition Deal emissions reduction targets.”
The developers of Green Volt said they remained in discussions with multiple oil and gas outfits to agree offtake deals, which is a requirement of the lease granted by Crown Estate Scotland for the 35-turbine INTOG project in 2023.
Flotation Energy and Vargronn are aiming to bring the floater online in 2029 having secured consent in April 2024 before landing a Contracts for Difference for 400MW in last year’s Allocation Round 6.
A Green Volt spokesperson said: “Green Volt is on track to be developed as the largest commercial-scale, floating offshore wind farm in the world, providing clean power to thousands of homes across the UK.
“The North Sea Transition Deal aims to reduce greenhouse gas emissions from North Sea oil and gas production by 50% by 2030, and despite the economic challenges facing oil and gas operators on the UK Continental Shelf, we remain in active, commercial discussions with potential partners regarding the electrification of their platforms.”