News Oil & Gas

Oil & Gas Platform Electrification with Wave Energy

Offshore oil & gas platforms require constant power supply and decarbonization of this power is a high priority. A case study with Lundin Energy Norway has shown that wave power is highly competitive with offshore wind power, both in terms of levelized cost of energy and providing a more stable power supply that requires only half as much power balancing.


To assess the sizing and power balancing requirements of the oil & gas platform, a one-year time series with sea state data was analysed. A design for a 100 MW wave farm was developed for on- and off-grid installations. The output power profile was compared with the output power profile from an equivalent wind farm and wind data for the same place and time period. The more consistent nature of waves was evident and wave power provided a significantly more stable power production.


An off-grid wave farm installation required only half the amount of energy storage compared to the wind farm, both in terms of power and energy ratings as well as energy passing through the storage. The cost for balancing the produced power is therefore cut in half with wave power, by reducing both the cost of the energy storage system and the loss of produced electricity occurring when the energy storage is used.


Hydrogen was identified as the most viable solution for long-term seasonal balancing in an off-grid installation, due to the large quantities of storage required. It can also be noted that using depleted gas fields to provide hydrogen storage is considered an interesting opportunity for oil & gas companies to continue generating value from such assets.


About Wave Power

The estimated global theoretical potential of wave power1 exceeds the global use of electricity and is available in coastal areas where most of the population lives. Wave power produces electricity more consistently and at different times compared to wind & solar power and therefore contributes to offset intermittency, reducing the total cost of carbon-free electricity. Wave power furthermore needs only half the amount of energy storage to balance the power production to a constant output throughout the whole year compared to wind power, further reducing the total cost of energy. Wave power will be an important part of the future renewable energy mix, contributing both to lower cost of energy and a more stable energy system.


About Ocean Harvesting and InfinityWEC

Ocean Harvesting is a privately held company with offices in Karlskrona and Gothenburg, Sweden. After years of research within the wave energy sector, the company started in 2017 to develop the InfinityWEC wave energy converter.


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