French floating wind company Ideol is to investigate how clean electricity generated by floating offshore wind farms can be used to power oil and gas platforms.
The company has signed a memorandum of understanding (MoU) with Kerogen Capital, a private equity fund manager specialising in the international oil and gas sector.
Ideol said it will combine its technically proven floating offshore wind platform with Kerogen’s “extensive international offshore oil and gas expertise and network”.
The company stated: “The collaboration is intended to identify and promote differentiating values propositions when substituting hydrocarbon powered generators of oil and gas production platforms with floating wind systems to improve the operational, commercial and environmental sustainability of the offshore facilities.”
Ideol chief executive Paul de la Gueriviere said: “As already demonstrated with the development of the world’s first market-ready floating electrical substation, Ideol’s internationally recognised 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 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.”
Kerogen managing partner Jason Cheng added: “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.”