Baker Hughes, the American oilfield services firm, signed a Memorandum Of Understanding with Horisont Energi for the Polaris carbon capture and storage project, off the coasts of northern Norway; the company announced this Tuesday.
Firstly, under the agreement the two companies will explore how to develop and integrate technologies to minimize the carbon footprint at the site; particularly through carbon capture, transport and storage (CCTS).
Secondly, this facility, the Polaris offshore project, is part of Horisont Energi’s Barents Blue project; which is the first global and full-scale carbon neutral “blue” ammonia production plant. This plant will have a total carbon storage capacity of 100 million tons; the equivalent of twice Norway’s annual greenhouse gas emissions.
Thirdly, the facility will begin construction in the second half of 2022; the Polaris project overall aims to have the lowest carbon storage cost in the world, and to pave the way for profitable CCTS facilities.
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Baker Hughes experience would scale and reinforce business model of Polaris project
Moreover, Baker Hughes will collaborate in developing processes and technologies that would further reduce the carbon footprint in the well construction and the subsea segments. Also, in the development of high efficiency turbomachinery technology, including compressors and turbines.
In addition, both companies will collaborate in the construction of a low-to-zero emissions power and heat generation for clean ammonia plant; also, both companies will conduct the pre and front-end engineering and design studies for the site; including also the life-of-field service model for the life cycle of the project; its site selection, drilling, and power to subsea infrastructure.
On the other hand, Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi, said. “With Baker Hughes, we will scale solutions across the carbon value chain to accelerate the decarbonization of the energy industry. Our complementary competencies allow for a strategic partnership for scalable, energy-efficient and flexible technology solutions.”
Finally, Uwem Ukpong, executive VP of regions, alliances and enterprise sales at Baker Hughes, remarked. “Baker Hughes has a broad and established portfolio of CCTS technology and also proven expertise in executing some of the North Sea’s most complex offshore projects. We are proud to be partnering with Horisont Energi for new energy frontiers; taking the Polaris carbon storage project from concept to reality.”