Monday, September 26, 2022

SBM Offshore aiming for ‘near-zero emissions FPSO’ by 2025 – CEO

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SBM Offshore is positioning itself to benefit from the global energy transition.

The company has its eyes set on achieving net-zero emissions by 2050 and has announced new intermediate greenhouse gas-related targets.

SBM Offshore’s Chief Executive Officer (CEO) Bruno Chabas disclosed at the company’s recent half year earnings call that it is aiming for 100% sourcing of green energy by 2030 and considering investments in certified projects to balance any residual greenhouse gas (GHG) emissions from scope 1 and 2.

SBM Offshore also aims to achieve a 50% of scope 3 GHG intensity and zero routine flaring in its fleet of floating, production, storage, and offloading (FPSO) vessels.

“We are also seeing good progress under our emissionZERO® program with the aim to have a near-zero emissions FPSO available to the market by 2025,” Chabas shared. “Our market outlook for new FPSOs remains positive as the world requires energy, which is not only sustainable, but also affordable and reliable.”

New Guyana FPSOs to be built with Liza Unity’s record sustainable design – Exxon | OilNOW

And this is what SBM Offshore is delivering through its competitive Fast4Ward® FPSOs, which are also characterised by low-emissions intensity. The Dutch floater specialist says Fast4Ward® is based on five key principles: engaging early with clients, standardisation, focus on flawless execution, partnering with the supply chain and use of digital solutions in today’s volatile environment.

Guyana’s emissions intensity outperforming 75% of global oil & gas producing assets

The Liza Unity vessel was the first ever in the world to be built with SBM’s Fast4Ward® specifications. It was also the first vessel to cop the SUSTAIN-1 notation for its sustainable design and operations.

And since then, SBM Offshore has been applying the Fast4Ward® principles across its product portfolio.

The company is currently constructing two more Guyana FPSOs – Prosperity and One Guyana – for ExxonMobil’s Stabroek Block developments at Payara and Yellowtail, respectively.

Through SBM Offshore’s New Energies platform, the company is also developing new products and services compatible with its net-zero roadmap, with a 25-megawatt floating offshore wind project in the south of France to come on stream by 2023.

“The orderly transition from fossil to renewable energy will require companies to design and develop innovative technical solutions combined with the capability to reliably execute, finance, and operate them. At the same time, it will require discipline in providing value to all stakeholders with a particular focus on profitability while balancing risk,” the CEO said.

He explained that as an “energy transition company”, SBM Offshore is well positioned to support, make a difference to, and benefit from multiple pathways in the growing energy transition market.

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