Japan’s Mitsubishi Heavy Industries (MHI) and the Netherlands-based SBM Offshore Group inked a Partnership Agreement that will offer a CO2 capture solution for Floating Production Storage and Offloading vessels (FPSO) as they are producing oil and gas from offshore reservoirs.
The agreement follows a successful engineering and design study between the companies demonstrating the technical feasibility and commercial readiness of CO2 capture technology offshore.
The CO2 capture solution will apply MHI’s proprietary “Advanced KM CDR Process” technology, jointly developed with The Kansai Electric Power Company. The technology enables significant greenhouse gas emissions reductions from FPSOs by capturing CO2 from onboard gas turbines.
It is estimated that the CO2 capture technology can reduce CO2 emissions from overall FPSO operations by up to 70%.
The solution is being developed as part of SBM Offshore’s emissionZERO program and is based on a combination of MHI’s proprietary CO2 capture technology and SBM Offshore’s industry-leading Fast4ward principles.
Demand for decarbonization of FPSO operations is expected to increase rapidly. Through this collaboration, the companies will aim to open the door to offshore CO2 capture and storage development, making a concrete contribution to carbon neutrality efforts.
Kenji Terasawa, CEO and Head of Engineering Solutions at MHI said: “We are very pleased to establish a new partnership with SBM Offshore, a leading FPSO company that is essential to the energy industries. Combining proven technologies of both companies will be an important step toward decarbonisation of offshore greenhouse gas emissions from FPSOs. With this agreement, we will accelerate the offshore carbon capture business in order to achieve a carbon-neutral society.”