France-based Ideol has entered into a memorandum of understanding with Kerogen Capital, a private equity fund manager, to assess the benefits of using offshore wind to power oil and gas platforms.
The focus of the initiative will be to leverage Ideol’s proven floating offshore wind solutions and combine it with Kerogen’s extensive international offshore oil and gas expertise and network.
The companies intend to identify opportunities to use floating wind to substitute for fossil fuel-based generators on offshore oil and gas production platforms.
Ideol chief executive Paul de la Guérivière said, “We have already developed the design of the world’s first floating offshore substation. Our expertise in floating offshore wind can also be leveraged to develop other value-added solutions. We will benefit from Kerogen’s understanding of the offshore oil and gas market.”
Kerogen managing partner Jason Cheng said, “We are committed to reducing the carbon footprint of our portfolio of companies and the broader oil and gas industry.
“In addition to reducing 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 provides an opportunity to assess power-to-platform opportunities, starting with long-life projects in the North Sea area.”
Ideol is best known for its floating pool foundation for offshore wind turbines and substations. Kerogen Capital is an independent private equity fund manager with more than US$2 billion in assets under management.