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MoU aims to deploy nuclear power on North Sea assets
Viaro Energy has signed an agreement with a developer of small-scale nuclear power with expectations to deploy one of its production assets in the North Sea
The London-based independent upstream energy company will work with clean nuclear technology developer newcleo in a strategic partnership to install advanced modular reactors (AMR) to support the decarbonisation of the oil and gas sector. These generation IV reactors use nuclear waste as fuel to generate around 200 MW of electrical power each.
Viaro and newcleo have signed a memorandum of understanding (MOU) outlining a framework for planned collaborative activities to decarbonise Viaro’s oil and gas infrastructure.
Newcleo is developing lead-cooled fast reactor (LFR) technology which is suitable for a wide range of locations due to its intrinsic safety and compact characteristics.
Viaro, via its operating subsidiary RockRose Energy, owns stakes in gas and oil production fields and assets on the UK Continental Shelf, in the southern and central sectors and west of Shetland, and in the Dutch sector of the North Sea, following a combination of strategic investments in exploration opportunities and mature producing fields.
RockRose Energy is also a partner in key terminals such as the Shetland gas plant and Bacton terminal in the UK, and the Den Helder gas plants in the Netherlands.
Viaro has directly invested in newcleo by acquiring shares in its latest capital raise.
After completing feasibility studies, the companies intend to establish a joint venture to deploy newcleo’s 200-MWe LFR reactors at chosen sites within Viaro’s portfolio of assets and prospective acquisitions in which Viaro is currently engaged.
Viaro said the technology will contribute to net-zero goals by maximising the benefits of AMRs for cogeneration, combined heat and power and off-grid application.
The average life span of an LFR reactor is 60 years and after decarbonising Viaro’s hydrocarbon assets, the LFRs will continue providing clean energy to the UK’s national electric grid and elsewhere across Europe where the technology is implemented.
“The partnership with newcleo is a major milestone in our strategy to exemplify the only economically viable approach to the energy transition by investing in both energy security and long-term net-zero goals,” said Viaro Energy chief executive Francesco Mazzagatti.
“We are spearheading decarbonisation efforts through implementation of clean nuclear energy technology. We are confident in newcleo’s potential to pave the way towards a sustainable and affordable clean-energy solution.”
RockRose Energy’s interests in producing fields are all non operating, except for the Anning and Somerville developments, where it will assume operatorship of the fields prior to first gas: the company’s first operator role since being acquired by Viaro Energy in 2023.
The development concept involves two unmanned wellhead platforms using low-emissions power generation technology and pipeline tie back to a host platform in the Sean area of the southern North Sea.
There are also plans to upgrade assets in the Easington Catchment Area, off the Humber Estuary, with low-emissions power technology.
RockRose is a non-operating partner at several other assets in the Dutch sector where energy companies are looking at asset extensions, satellite field developments and reducing emissions.
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