Dear colleague,

• Oil and gas fields can to a large extent be electrified without power from shore
• Significant emission reductions can be realised with impact already in 2024
• This can lay the foundation for a large export industry based on offshore floating wind for Norway

• The UK and Norway have set ambitious emission reduction targets for 2030
• Offshore floating wind has been identified as the key tool to de-carbonise the oil and gas industry in both countries
• Policymakers must enable the floating offshore wind industry to deliver on these targets

Odfjell Oceanwind has entered into a Memorandum of Understanding with the Norwegian exploration and production company OKEA and the utility company TrønderEnergi to jointly evaluate the potential of developing a floating offshore wind farm connected to the Draugen platform.

• The oil and gas industry in Norway has set an objective to reduce its emissions by 50% by 2030
• Halving the emissions from oil and gas installations means having to shift their power generation systems from fossil fuels to renewable energy
• Odfjell Oceanwind’s Mobile Offshore Wind Units (MOWUs) and the WindGrid™ hybrid system allows operators to reduce CO₂-emission by up to 70% compared to power generation from gas turbines only
• The WindGrid™ system is developed based on the learnings from the hybridisation and de-carbonisation of Odfjell Drilling’s rigs

Odfjell Oceanwind is, together with its partners Siemens Energy and Siemens Gamesa Renewable Energy, a finalist in World Oil’s 2021 New Horizon Idea Award for its Mobile Offshore Wind Units (MOWUs) and WindGrid™ system.

• A fit for purpose, predictable commercial framework for de-carbonisation is necessary to accelerate investment decisions and to deliver on the oil and gas industry’s de-carbonisation goals.
• The legal framework needs to be up to date in order to not slow down the green shift.
• Mobile offshore wind can be an efficient de-carbonisation solution for oil and gas.