Petrofac Ltd. (St. Helier, U.K.) has signed a Memorandum of Understanding (MOU) with independent clean-energy specialist, Storegga Geotechnologies.
The MOU builds new energy capability and capacity in the UK and represents a significant strategic step in Petrofac’s continued expansion into new and renewable energy.
The agreement supports Petrofac and Storegga to collaborate on potential business development and project initiatives in Carbon Capture and Storage (CCS), Hydrogen and other low carbon projects. With an initial focus on the UKCS and North West Europe, the MOU also includes scope for the parties to work together internationally.
Petrofac was recently awarded a Project Management Office support contract for the Acorn project with Pale Blue Dot, of which Storegga is the holding company.
Commenting, Petrofac Engineering & Production Services’ Chief Operating Officer, and global Corporate Development Officer, John Pearson, said:
“We are delighted to develop this strategic partnership with Storegga, who have a bold ambition to establish themselves as an operator of low carbon technology projects. Like our existing offshore wind portfolio, CCS, Hydrogen and other low carbon technologies require the complex engineering, project management and asset management capability we have developed in oil and gas. We very much look forward to having the opportunity to leverage our experience – from concept to commissioning – to work with Storegga to bring viable projects through to fruition and help drive the UK’s Energy Transition.”
Nick Cooper, Chief Executive of Storegga Geotechnologies, said: “There is great value in Storegga working with companies such as Petrofac to bolster our engineering and project management capability. This will enable Storegga to accelerate the delivery of our CCS and hydrogen projects in support of the energy transition. We very much look forward to collaborating on future opportunities.”