Up to £5bn needed to meet platform electrification goals

Up to £5bn needed to meet platform electrification goals

Analysis by consultancy Xodus Group suggests £3.5-5 billion in capital expenditure will be needed to realise the electrification projects required to lower offshore emissions under the UK’s North Sea Transition Deal (NSTD).

Speaking at an OGUK webinar on Thursday, representatives from OGUK, the Oil and Gas Authority (OGA), Xodus, ABB and wind developer Orsted discussed the technology, policy and investment required to build out low-carbon power for North Sea infrastructure.

The UK offshore oil and gas sector currently emits around 14 million tonnes CO2 equivalent (CO2e) per year, or about 16% of total energy sector emissions.