Offshore oil and gas platforms require constant power supply and decarbonisation of this power is a high priority. An Ocean Harvesting Technologies case study with Lundin Energy Norway has shown that wave power is highly competitive with offshore wind power, both in terms of levelised 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 and gas platform, a 1-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 and gas companies to continue generating value from such assets.
“In addition to the very promising findings of this case study, it has also made it possible for Ocean Harvesting to develop a comprehensive array and system design, a handling plan, and a life cycle cost assessment for a 100 MW wave farm, all of which will be very valuable going forward towards sea trials and commercialisation,” says Mikael Sidenmark, Ocean Harvesting Technologies CEO.