September 15, 2023
SBM Offshore and Mitsubishi Heavy Industries Ltd. (MHI) are pleased to announce the signing of 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 ProcessTM” technology, jointly developed with The Kansai Electric Power Co., Inc.
- 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.
Olivier Icyk, Managing Director of Floating Production Solutions at SBM Offshore commented:
“The signing of this Partnership Agreement marks a key development within our emissionZERO® program, whose goal is to provide FPSOs with near-zero emissions. The technology, which we are now able to offer clients, is an essential solution to substantially reduce the carbon footprint of our FPSOs. We are pleased to partner up with MHI, a top player whose carbon capture technology perfectly complements our leading experience in floating energy solutions.”
Kenji Terasawa, CEO and Head of Engineering Solutions at MHI commented:
“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 towards decarbonization 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.”
About SBM Offshore
SBM Offshore has over 65 years of extensive experience designing, constructing, delivering, installing, and operating offshore energy facilities, with special expertise in developing local supply chains and providing economic opportunities to local communities. With over 7,000 people globally, SBM Offshore is active in the decarbonization of conventional deepwater ocean infrastructure and the deployment of new energies.
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world.
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for renewable energy sources.
More than 7,000 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
|Third Quarter 2023 Trading Update||November 9||2023|
|Full Year 2023 Earnings||February 29||2024|
|Annual General Meeting||April 12||2024|
|First Quarter 2024 Trading Update||May 8||2024|
|Half Year 2024 Earnings||August 8||2024|
For further information, please contact:
SBM Offshore Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
MHI Media Relations
Corporate Communications Department
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