NEW ENERGY + TECH
weareharnessingtheultimatepowerofthe greatestmindsonearthtocreatea sustainable,newenergyfuture.
GLOBAL RECOVERY Inaworldwhereanythingispossible
Table of 5 Bids totalling $238,075,321 MAJOR Offshore WIN for Newfoundland 12 22 28 34 42 Port of Argentia: Wind Energy to Hydrogen is the next big ‘Thing’ TwoGreats: CabotMartinandJudith Bobbitt FriendsofCabotMartinto RaiseFundstoEstablish “CabotMartinAwardfor ResearchinRegionalPolicy& Development” YesterdayWasthe TimetoGetInvolved inHydrogenEnergy
WestWhiteRose $2billionincontracts &thousandsof jobsahead 46 52 54 60 66 OffshoreNewfoundland: CleanEnergySecurity fortheWorld How Do You Ensure Operations AreCorrosion Proof? ABB’sSubseaTechnology Recognizedby Independent Research BAYduNORDISAGO NewfoundlandandLabrador: ReboundingIntoTheNew EnergyRevolution 70
Table of 76 78 Blockchain KeytoCuttingDownOiland GasOperationalCosts MajorMerger:World’s LargestMembers’ AssociationforBlockchain Technology IndependentResource AssessmentsRevealOiland GasPotentialOffshore NewfoundlandandLabrador ContinuestoGrow 82 US$13MillionInvestmentby ABBtoExpandPresencein Canada 86 PrinciplePowertoAdvance FEEDforWind-to-Hydrogen DolphynProject 90
The front door of your business is no longer a door
It's a website
....
us for your new website that marries Function with Design DigitalCollateral.ca
Contact
5 BIDS TOTALLING $238,075,321 MAJOR OFFSHORE WIN FOR NEWFOUNDLAND
TheCanadaNewfoundlandand LabradorOffshore PetroleumBoard(CNLOPB)isannouncedthe resultsofCallforBids NL22-CFB01(Eastern NewfoundlandRegion) andCallforBidsNL22CFB02(SouthEastern NewfoundlandRegion). BothCallsforBidswere previouslyapprovedby thefederaland Newfoundlandand Labradorgovernments. Theawardingof explorationlicences arisingfromanyCallfor BidsisaFundamental Decision,meaningitis subjecttofurther approvalsbythefederal andprovincial governments. Fivesuccessfulbidswere receivedforCallforBids NL22-CFB01(Eastern NewfoundlandRegion), totaling$238,075,321in workcommitmentsand
covering1,222,907 hectares.Nobidswere receivedfortheSouth EasternNewfoundland RegionCallforBids. Thesolecriterionfor selectingawinningbidis thetotalamountthe biddercommitstospend onexplorationofthe parcelduringPeriodI(the firstsix-yearperiodofa nine-yearlicence).The minimumacceptablebid foreachparcelis $10,000,000inwork commitments. ParcelsincludedinCall forBidsNL22-CFB01can befoundinthefollowing mapCallforBidsNL22CFB01Parcelsmap Offshoresafetyand environmentalprotection areparamountinall Boarddecisions.TheCNLOPBsupportsactionby thefederalandprovincial governmentstoaddress climatechangeand protectnotablemarine areas,workingclosely withgovernmentsand othersinthisregard. Emissions-related considerationswillbe assessedaspartofthe regulatoryreviewprocess shouldcompanies proposespecificplans. Planning,monitoringand assessmentofoffshore petroleumactivitieswill ensuretheyoccurina safeandenvironmentally responsibleway.Required regionaland/orsitespecificmitigation measureswillbe undertakenbeforeany petroleum-related operationscanbegin withinalicencearea,as conditionsof C-NLOPBapprovalsand authorizations.Thetiming, spatialextent,andnature ofproposedoilandgas
activities,inadditionto mitigationsalready prescribedbylegislation orregulation,will determinethelevelof restrictionormitigation thatmayberequired. TheEastern NewfoundlandRegion includesanumberof importantareasforfish harvesterswhofishcrab andotherspecies. TheC-NLOPBfully appreciatesthe importanceofboththe fisheriesandpetroleum sectorsandwillcontinue toengagewithfisheries stakeholders,Fisheries andOceansCanada (DFO),otherfederaland provincialagenciesand otherstakeholders throughouttheland tenureprocess.Likeany companiesacquiring ExplorationLicences,the successfulbiddersfrom CallforBidsNL22-CFB01 willberequiredtoengage withfishinginterests beforeanyoilandgas activitiesareauthorized. Parcel12alsooverlaps withaportionofthe NortheastNewfoundland SlopeMarineRefuge.The C-NLOPBisfocusedon theprotectionof environmentally significantareasandwill alsocontinuetowork
Asmostoftheseparcels arebeyondCanada’s200 nauticalmilezone, additionaltermsand conditionsmaybe applied(e.g.through legislation,regulations, amendmentstolicences orotherwise)tothe resultinglicencesfrom thisCallforBidsinorder tomeetobligations arisingpursuanttoarticle 82oftheUnitedNations ConventionontheLawof theSea. Subjecttobidders satisfyingthe requirementsspecified andreceiving governmentapprovals, theBoardwillissuethe newexplorationlicences inJanuary2023.Further detailedinformation abouttheseCallsforBids isavailableonthe C-NLOPBwebsiteor C-NLOPBDataand InformationHub.
Are you stuck trying to figure out how to tell your story? No worries... Hire us, the professionals in copy writing. www.DigitalCollateral.ca
PORTOFARGENTIACEO,SCOTTPENNEY
Do your proposals and sales materials have the WOW factor? Do you beat out your competition every time with powerful infographics, charts and sales design? No worries...we gottcha. Contact us. Top-notch designers for our clients in the energy industry. DigitalCollateral.ca
TWOGREATS: CABOTMARTINANDJUDITHBOBBITT
EntrepreneurJudithBobbitt
Friends of Cabot Martin to Raise Funds to of Cabot Martin to to Establish “Cabot Martin Award for Research Establish Martin Award for Research in Regional Policy & Development” in Regional Development”
by: David Vardy David Vardy
Confirmeddiscoveriesin 2020inadjacentexploration licenceEL1156(Cappahayden andCambriolEast)are potentialtie-insinajoint projectdevelopment.TheBay duNorddiscoveryisata waterdepthofapproximately 1170metreswhilstthenew discoveriesareatapprox. 650waterdepth. BAYduNORDISAGO BOOM TheBayduNordproject(BdN) consistofseveraloildiscoveries intheFlemishPassbasin,some 500kmnortheastofSt.John’s inNewfoundlandandLabrador, Canada.Thefirstdiscoverywas madebyEquinorin2013, followedbyadditional discoveriesin2015,2016and 2020.
Theoilindustryin Newfoundlandisaboutto boom.Itismoregoodnewsfor theoilandgasindustryof NewfoundlandandLabrador today.Hibernia,TerraNova,was WhiteRose,andHebronareall producingoil.TheWestWhite RoseExtensioniscurrently underconstruction.Nowthe “sixthsignificantfind”has arrivedandwillproduceoil offshoreNewfoundland,Baydu Nord. EquinorCanadahastakena significantfirststeptoadvance theBayduNordprospectinthe FlemishPassBasin.Theyhave giventhenoticetoproceed officially.Thegreenlightwas giventotheBayduNord projecttoday,wherePremier Ballwasjoinedatthe announcementbythe HonourableSiobhanCoady, MinisterofNaturalResources. UnniFjaer,VicePresident, OffshoreNewfoundland,Equinor Canadasaid,“Thismarksan importantmilestoneto progressasuccessful developmentattheBaydu Norddiscovery.Thisframework agreementprovidesimportant clarityandstabilityasEquinor andourpartnerHuskyEnergy worktomovethisproject towardasanctiondecisionin thecomingyears.Wealso welcomeournewequity partner,theprovince’senergy company,totheproject. Equinor’spurpose–toturn naturalresourcesintoenergy forpeopleandprogressfor society–meansweuseour competenceandtechnologyto provideenergytoagrowing populationinasafeand responsibleway,andtheBay duNordprojectpresentsan opportunitytoachievethis offshoreNewfoundlandand Labrador.”
Morethan$14billionin economicactivity In-provinceemploymentof 22.3millionpersonhours overthelifeoftheproject Estimated$3.5billionin governmentrevenues; Expectedin-province fabricationof5,000metric tonnes; Focusonsubsea engineeringandnew fabricationcapabilities; Aminimum$75millionin researchanddevelopment, andeducationandtraining expendituresover10years topositionNewfoundland andLabradorasa deepwatercentreof excellence;and Aprojectequitystakeof10 percent. TheBayduNordprojecthas manybenefitsforthepeopleof NewfoundlandandLabrador, including: Withreservesofnearly300 millionbarrelsofoil,Baydu Nordisthefirstremote, deepwaterprojectinthe province’soffshore(500 kilometresfromshoreand approximately1,200metres deep).Itopensanewbasin–theFlemishPassandisthefirst projecttobenegotiatedunder NewfoundlandandLabrador’s genericoilroyaltyregulations. BayduNordisaunique opportunitytogenerate significantvalueandincrease thecapacityandglobal competitivenessofthe NewfoundlandandLabradoroil andgassupplychain. InalignmentwithEquinor’s strategyforalow-carbon future,theBayduNord developmentisdesignedto optimizeenergyefficiency. Equinorandtheirpartnerssee theopportunitytoapply digitalizationprinciples throughoutthelifeofthefieldin ordertoimprovetheefficiency ofthedevelopment. $14billionopportunities
YOUR DIGITAL ASSETS and presentation can make or break your next contract! contact us for professional bids, proposals, training materials, websites and more. digitalcollateral.ca
SuncorannouncedtheWest WhiteRosere-startwhereby Suncorhasincreasedits ownershipintheWhiteRose asset.Inexchangeforacash paymentofapproximately $50millionfromCenovusto Suncorandinaccordance withtheconditional agreementannouncedon September8,2021,Suncor’s interestintheWhiteRose assetincreasesfrom27.5%to 40.0%andintheWestWhite Roseprojectfrom26.1%to 38.6%. $2billionincontracts &thousandsof jobsahead West White Rose $Billionsofcontractsand infrastructuredevelopmentwill commenceoffshore Newfoundlandwiththe:West WhiteRoseprojectrestarting, BayduNordproject progressing,newopportunities withlandsaleplays,andthe TerraNovarefurbishmentand commencement.It’svery excitingtimes.Talkabouta reboundoutofaverydarktime. Newfoundlandispoisedfor greatopportunitiesahead.
ThedecisiontorestarttheWest WhiteRoseprojectistheresult ofarobustprojectevaluation whichincludedtheimpactofa finalizedagreementwiththe GovernmentofNewfoundland andLabradoronacompetitive royaltyframeworkforthe project. TheWestWhiteRoseProject jointventureownersare Cenovus(operator),Suncor andNalcor.Firstoilfromthe platformisanticipatedinthe firsthalfof2026,withpeak productionanticipatedtoreach approximately80,000barrels perday(bbls/d),45,000bbls/d nettoCenovus,byyear-end 2029. “Thisprojectisexpectedto extendtheproductionlifeofthe WhiteRosefield,securinglongtermvalueforshareholders andthepeopleof NewfoundlandandLabrador,” saysShelleyPowell,SeniorVice PresidentofExplorationand Production,andInSituwith Suncor. “Thejointventureownershave workedtogethertosignificantly de-riskthisprojectoverthe past16months.Asaresult, we’reconfidentrestartingWest WhiteRoseprovidessuperior valueforourshareholders comparedwiththeoptionof abandonmentand decommissioning,”saidAlex Pourbaix,CenovusPresident& ChiefExecutiveOfficer.“Withthe projectabout65%complete, combinedwiththeworkdone overthepast16monthstofirm upcostestimatesandrework theprojectplan,weare confidentinourdecisionto restartthisprojectin2023.”
Theremainingcapitalrequired toachievefirstoilisexpectedto beapproximately$2.0billionto $2.3billionnettoCenovus.This includesconstructioncostsof approximately$1.6billionto$1.8 billionnettoCenovusforthe completionoftheWestWhite Rosefullplatform,andabout $400millionto$500millionnet toCenovusforsubseadrilling andcompletionsworkandthe SeaRosefloatingproduction, storageandoffloading(FPSO) vessel’sassetlifeextension. Capitaltocompletetheproject islargelyoffsetbydeferralof planneddecommissioning costsof$1.6billionto$1.8billion overthenextfiveyearsthat hadbeenassumedinthe businessplanpresentedat Cenovus’sInvestorDayin December2021.Includedinthe WestWhiteRoseProjectcapital estimateis$120millionnetto Cenovustobespentin2022as thecompanyworkstowards fullrestartoftheWestWhite RoseProjectin2023. West White Rose
If Covid-19 has taught us anything, it is to take care of our world People, planet and animals ....
TheOGM.com
Let's help you get your story out... the one where we understand just how much you care!
content builds relationships relationships build trust trust builds profitability digitalcollateral.ca
orrosionanderosionareterrifyingoutcomesthatplague workplaceequipmentandassetsintheenergyindustry.Left uncheckedcorrosionwillultimatelyresultinexcessive operatingcostsduetocorrosion/erosiondamagesultimately causingmoreworkintheinspection,repair,maintenance phaseofbusinessprocesses.Corrosionofpipes,production equipment,andindustrialassetscouldmakeorbreakthe safetyofyourproject. HowDoYou Ensure Operations AreCorrosion Proof? Harber Coatings AppliesMaterial ScienceToSteel ByTinaOlivero C
Mitigatingcorrosionriskis criticalnotjustintheshort termbutoverthelifelong journeyofyourassets.So howdoyouensurethat yourindustrialprojects remaincorrosion-freeand leaveyoufeeling confidentaboutthesafety andproductionofyour assets?Thisisaquestion thatplaguedKenWang, PresidentofHarber Coatings. Kenrecallstheyearsof companygrowth,“This year,HarberCoatingsInc (HCI)isproudtocelebrate 20yearsinCanada.HCI hasbeenaleaderin ElectrolessNickel Coating/Platingsince 2002. Theformulaforthe company’ssuccess comesfromtransferring academicresultsinto consistentlarge-scale industrialproduction wherebythelifetimeof assetsiscorrosion-free andprojectsafe.” Fromitshumble beginningsinasmall workshopinInglewood, Calgary,todayHCIis headquarteredinthe esteemedCalgary FoothillsIndustrialPark. Thecompanyisnowthe industryleaderinhightech,peak-performance metalsurfaceprotection. TheHCIfacilityoccupies over20,000squarefeetof productionareaand boastssomeofthelargest ENCprocessing equipmentintheworld.
Thislocationalsoincludes R&Dfacilitiesfundedbythe NationalResearchCouncil ofCanadaandcontinuesto developinnovative technologies. Kenexplainstheprocess, “Weareproudtosaythat overtheyears,Harberhas developedaseriesofhighperformancecorrosionand erosionprotectionsolutions fortheOilandGasindustry. Inadditiontotheflagship InnoGuard™ENC,therearea fewotherR&Dprojects ongoing.” HarberCoatingsInc.has made–InnoGUARDTM300 seriescoatingp d t th t arebasedona proprietarypro ensuringtheco notflakeorpee whentheyarem damaged. Steelhasexcellent materialpropertieswhen guardedagainstcorrosion andotherwear challenges,andassuch manyprotectivecoating optionshavebeen developedovertheyears. Prominentexamples includepaint,epoxy, polymer/powdercoat, galvanizing,thermalspray, metaloverlayaswellas ENC/ENP.Apersistent challengeforallthese establishedproductshas beenperformancein severeenvironments, specificallythetendency toacceleratetherateof wearoncethecoating t t t d l d
Kenexplainshowthey provideclientswithlongtermresults,“We’ve mitigatedcorrosionriskand combattedcoatingfailure withHCI’sInnoGuard™ENC.It isauniqueproductthathas outstandingwearproperties andexceptionalbondingto thesubstratematerial.This meanswhenfailureofthe coatingeventuallyoccurs, thereisnoaccelerated corrosionfromgalvanicor crevicecorrosiondeveloping underneaththecoating. InnoGuard™protectedparts dramaticallyextendthelife ofassetsandminimizethe riskofunplanned shutdowns.” HarberCoatingsistheworld leaderinENC/ENPprocess bycoatingperformance, productionscale,andESG. HCI’sproprietarycoating productsdonotflakeeven underseveremechanical impacts.TheHCIteam specializesinlarge-scale componentssuchasfulllengthtubingandcasing pipes.Theproductionis highlyefficientand environmentallyfriendly comparedtoconventional ENCasthereisminimal industrialwastegeneration. HCI’sproductofferingsare furtherdifferentiatedbya complementaryapplication assessmentand performanceguarantee.
Specifictoeachapplication, HCIprovidesdesign alterationadvice(if applicable)anda guaranteeonthelifespanof thecoatedcomponentfor thespecificservicecondition basedonprovideddesign parametersandits databaseofpast applications.Thiscreates certaintyintheinvestment andlong-termprotectionof energyassets. HarberCoatingsInc. continuestosucceedin servingoilandgasclients withhigh-techresearchand development. ENC(ElectrolessNickel Coating),and/orENP (ElectrolessNickelPlating) arefoundational cornerstonesoflong-term corrosion-proofing processeswithlife-of-asset results. Withuniqueadvantagesin transferringacademic resultstoindustrial applications,Harberhas developedaseriesof coatingsolutionformulas andproprietaryprocessing technologiesthatwillserve theindustrialsectorforyears tocome.Congratulations HarberCoatingsInconyour long-termcorrosion success!
Leadingthewayin subseaautomationwith itsunderwatercontrol systemsand electrificationservices, ABBreceivedFrost& Sullivan’s2022Best PracticesAwardfor GlobalOilandGas AutomationTechnology InnovationLeadership. ABBwascommendedfor thedevelopmentand commercializationofits subseapowerconversion anddistributionsystem. Itstechnologygivesoil andgascompanies accesstoareliable subseaenergysupplyof upto100megawattsof poweroverdistancesup to600kilometersintothe seaand3,000metersof waterdepthwithlittle maintenancerequired despiteoperatingat intensepressuresandin extremeconditions. ABB’SSUBSEA TECHNOLOGY RECOGNIZEDBY INDEPENDENT RESEARCH
MaríaAgustinade Sarriera,Frost&Sullivan oilandgasanalyst,said, “ABB’svisionaryand highlyinnovative solutionsaretechnology advancedwithinthe industry.Thecompany achieved transformationalgrowth intheautomation segmentviaitssubsea technologies.Itinvested inresearch,design,and developmentovermany yearsincollaboration
powertechnologysubsea
BrandonSpencer, presidentofABBEnergy Industries,commented, “Theconvergenceof automationand electrificationiskeyto reducingcarbon emissionsintheoiland gassector.Bypowering pumpsandcompressors ontheseabed,closeto thereservoir,our technologycan significantlyreduce energyconsumptionas wellasdecreasecarbon emissionsbyusingpower fromshore.Ithastaken yearsandthededication ofaround200scientists andengineersfromABB andourpartnerstomake thisareality,anditis fantasticthatFrost& Sullivanhasrecognized ourcollective achievementandleading technologythroughthis award.”
withChevron,Equinor, andTotalEnergiesto developthisinnovative
system–investingabout $100millionoverthe years.”
AssessedbyFrost& Sullivan’sglobalteamof GrowthPipelineexperts, theBestPracticesAward identifiesandassesses companiesthat consistentlydevelop growthstrategiesbased onavisionary understandingofthe futureandhowto effectivelyaddressnew challengesand opportunities. Frost&Sullivanalso congratulatedABBon securingthe$120million projectwithChevron AustraliaandAker Solutionstoengagein powerprovisionfrom shoreandsubseaoutto theJansz-Iofield. Thecompany’sapproach tooptimizingoperational efficiencywasalso commended,withspecial mentionmadeofits capitalprojectsand executionmethodology–AdaptiveExecution™.With digitalizationand collaborationatitscore, AdaptiveExecutionwas developedtodrive greenfieldproject efficiency.Byintegrating expertteams,innovative technologies,agile processes,collaborative knowledge,andproven methodologies,itcan deliverautomationrelatedCAPEXsavings between15percentand 40percent,reducestartupworkhoursbyupto40 percent,andcompress schedulesbyupto40 percent.
Frost&SullivanBest PracticesAwards recognizecompanies thathavedevelopeda productwithinnovative featuresandfunctionality thatisgainingrapid acceptanceinthe market.Theaward recognizesthequalityof thesolutionandthe customervalue enhancementsitenables. ABBisaleadingglobal technologycompanythat energizesthe transformationofsociety andindustrytoachievea moreproductive, sustainablefuture. Byconnectingsoftwareto itselectrification,robotics, automation,andmotion portfolio,ABBpushesthe boundariesoftechnology todriveperformanceto newlevels.Withahistory ofexcellencestretching backmorethan130years, ABB’ssuccessisdrivenby about105,000talented employeesinover100 countries. www.abb.com
Thefive-year,“MaximizingOurRenewableFuture”planhasa vision of reducing the province’s fossil fuel use, and delivering affordable and reliable renewable energy to the people of the province and beyond while developing and using its renewable energy resources in a manner that ensures environmental protection, meaningful Indigenous engagement, job creation, and industry growth. This plan is availableonIET’swebsite.
TheOGM:Wherewilloiland gasplayaroleinenergy10 yearsfromnow–20years fromnow? AndrewParsons:Well-known andrespectedsourcesof energy-marketanalysis, suchastheInternational EnergyAgencyandthe UnitedStatesEnergy InformationAdministration, forecastthatoilandnatural gascouldmeet approximately50%oftotal globalenergysupplyand consumptionoverthenext10 to20yearsinrecentlong termscenariooutlooks.Even insomeofthemore stringentpathways forecasted,toachievenetzeroCO2emissionsby2050, oilandnaturalgasstill representaround30%ofthe world’senergysupplyand consumptionmixby2040. WiththerestartoftheWest WhiteRose,TerraNova comingbackonlinethis year,andtherecent approvalofBayduNord,the province’soffshorewillplay akeyroleinhelpingthe provincemeetglobal demandforenvironmentally responsibleand geopoliticallysecure sourcesofoil. TheOGM:What’sthebestcasescenariofor responsibledevelopment whilemitigatingclimate impact? AndrewParsons: NewfoundlandandLabrador haveastrong environmental,social,and governancestructure, matchedwithourlow emissionsperbarrel comparedtothe internationalaveragewe continuetoshowour commitmenttonet-zeroby 2050whilemanagingajust greentransition.
social media is 2-way it's meant to be a telephone not a television contact us to build your social media plan digitalcollateral.ca
BLOCKCHAIN KeytoCuttingDownOilandGasOperationalCosts
Ravindraadds: “Companiestodayare strivingtoreduce operationalcostsamid thedemanduncertainty broughtaboutbythe COVID-19pandemicand thelikelyshifttowards low-carbonenergy sources.Inthisscenario, blockchaincouldproveto beaboonforthem.
MAJOR MERGER: WORLD’S LARGEST MEMBERS’ ASSOCIATION FOR BLOCKCHAIN TECHNOLOGY GlobalBlockchain BusinessCouncil–the leadingglobalindustry associationforthe blockchaintechnology ecosystem–has announcedamajor mergerwiththeworld’s leadingmarketstandards associationforthe adoptionof cryptocurrenciesand digitalassets,Global DigitalFinance(GDF).
Thecombined associationwillhave nearly500institutional membersand178 ambassadors,operating across95jurisdictions anddisciplines.Global DigitalFinancewillbe renamedGBBCDigital Finance,basedinthe UnitedKingdom,with teamspredominantly acrossEMEAandAPAC. SandraRo,CEOofthe GBBC,said:“Iamso gratefultoourGBBCand GDFcommunitiesof changemakers.Theyare whyweexistanddrive ourmissionofeducating, advocating,and advancingpartnerships tocreatenew opportunitiesforthe many,notthefew.
Themergerseesthetwo organizationsjointheir respectiveresources, assets,andmembership, becomingtheworld’s largestindustry associationforthe blockchaintechnology anddigitalassets ecosystem.
Ourglobalcollaboration, scale,andinfluencewill beagame-changerfor ourmembersandfor Web3asawhole.Iam incrediblyexcitedabout theforthcomingpositive impactofthiscombined networkacrossindustries andsectors.” LawrenceWintermeyer, GDFBoardChair,has beenappointedtothe GBBCBoardofDirectors. Headded:“Therapid growthandviabilityof blockchain,crypto,and digitalassetsmeans thereisaclearneedfor effective,harmonized regulationbuiltona robustglobalframework. Leadingglobal institutionsandleaders needtoworkwitheach other,withgovernments, andwithregulatorsto deliverthisframework, andthereisavitalrolefor GBBCandGDFtoplayin facilitatinganddriving thiscrucialcollaboration.” DavidTreat,aSenior ManagingDirectorand GlobalMetaverse ContinuumBusiness Group&BlockchainLead atAccenture,said:
INDEPENDENT RESOURCE ASSESSMENTS REVEAL OIL AND GAS POTENTIAL OFFSHORE NEWFOUNDLAND AND LABRADOR CONTINUES TO GROW Newfoundlandand Labrador’s2022 IndependentOilandGas ResourceAssessments releasedshowapotential of50.3billionbarrelsofoil equivalent(P50unrisked volumes)intheEastern andtheSouthEastern NewfoundlandRegions. Thetworesource assessmentsfor2022are basedonnewdata coveringparcelsonoffer bytheCanadaNewfoundlandOffshore PetroleumBoard(CNLOPB)intheOrphan basinandthesouthern Salarbasin.
work with a web design company that understands your vision and is a great corporate culture fit digitalcollateral.ca
the front door of your business is no longer a door it's a website
US$13MILLIONINVESTMENTBYABBTO
EXPANDPRESENCEINCANADA
PrinciplePowerhasbeen contractedbyERMto advancetheFront-End EngineeringDesign(FEED) foraWind-to-Hydrogen Dolphyn10MW demonstratorprojectoff thecoastofAberdeen. Thecontractwassigned afterERMDolphynwas awarded£8.62mof fundingfromtheUK Government,viatheLow CarbonHydrogenSupply 2Competition. ERMDolphyn(Deepwater OffshoreLocalProduction ofHYdrogeN)has developedaconcept designtoproducelargescalegreenhydrogen fromfloatingoffshore wind.TheERMDolphyn conceptemploysa modulardesign integratingelectrolysis andawindturbineona mooredfloatingsemisubmersibleplatform basedupontheproven WindFloat®technologyby PrinciplePowerto producehydrogenfrom seawater,usingwind powerastheenergy
source.ERMandPrinciple Powerhavebeen collaboratingonthe developmentof decentralizedhydrogen productionopportunities since2019. “Itisnowestablishedthat tomeetnet-zero ambitionsintheUKand allaroundtheworld, hydrogenfromoffshore floatingwindneedstobe asignificantcomponent inanyviablelong-term solutionforheat, electricitygeneration, andtransport.TheERM Dolphynproject,afirstof-a-kind,isan innovativeintegrated systemcombiningallthe technologiesrequiredto bringthelatestfloating windandhydrogen productiontechnologies togethertoenable offshorewindresources tocontributetoward hydrogenproductionat scale.PrinciplePowerhas beeninstrumentalinthis process,andwe’re delightedtoextendour collaboration”,saidDavid Caine,PartneratERM. The10MWdemonstrator projectisakeystepin provingtheDolphyn conceptpriorto commercial-scale deployment.The demonstratorprojectis targetingoperationsin late2025.Commercial scaleprojects(300MW+) areunderdevelopment andexpectedfor operationpre-2030, followedbylarge-scale (GW)deploymentpost2030.Whenfully deployed,atanexpected 4GWtotalcapacity,ERM Dolphynhasthepotential tosupplyenergytoheat morethan1.5million homeswithnocarbon emissions,thusavoiding thereleaseofmillionsof
tonnesofCO2intothe atmosphereeveryyear. 100000newjobsby2050 ERMDolphynisacore projectfortheUK’s Hydrogencoaststrategy, anditisexpectedtohelp generate>10.000new jobsby2030andmore than100.000by2050. Manyofthesejobswill relyontheworld-class skillsandknowledge foundintheoffshore renewablesandOiland Gassectors.Thismassive opportunityisnotwithout challenges:therapid scalingupoffloating offshorewindtomeet bothgovernments’and markets’energy transformationgoals requiresanequally massiveinvestmentin theentiresupplychain.A healthysupplychain, engagedearlyon,is essentialtohavinga holisticviewofeach
project’schallengesand achievingthedesired costreductionsthatwill bringfloatingoffshore windLCoEinlinewith otherformsofenergy generation. “Wearepleasedto continueouryears-long collaborationwithERMon theDolphynproject,and weareeagertofurther developpartnerships acrosstheentiresupply chainsupportingfloating offshorewind applicationstosupport andaccelerategrowthin theUKandglobally. MovingtoFEEDonthe Dolphynprojectisa significantmilestone towardsourcollective carbon-freefuture“,said Gregory-CampbellSmith, SeniorBusinessDeveloper Manager,Europeat PrinciplePower. Ontheotherhand, gettingtotheutility-scale requiresadvancements inmodularizationand industrialization,forwhich PrinciplePoweris leveragingits15yearsof experienceandlessons learnedinprecommercialprojectssuch asWindFloatAtlantic(25 MW,Portugal)andKOWL (50MW,UK)tostreamline everythingfromdesign conceptto manufacturingto installationandload-out.
