Sustainable Subsea Repsol Norge perspective on Subsea Innovation Subsea Innovation Day 28 April 2020 Repsol Norge AS
Repsol: a unique, integrated global position Core businesses: Upstream and Downstream ~715 kboe/d production ~2.3 billion boe proved reserves 1 1 Million bpd refining capacity ~2.6 Million tons of base chemicals 2 capacity Downstream Upstream Both ~4,800 service stations 1. As of 31/12/2018. 2. Includes 1.2 Million tons of Ethylene and 1.4 Million tons of other base Chemicals
Repsol Norge AS Portfolio and projects Operational competence and experience throughout the value chain Exploration: Development: Producing: Ceased: ‒ Portfolio in the Barents- Operated assets: Operated assets: Operated assets: and North Sea ‒ Yme, 55.0% ‒ Blane, 18.0% ‒ Varg, 65.0% ‒ Period of reduced ‒ Rev, 70.0% ‒ Vette, 40% ‒ Gyda 61.0% activity Non-op assets: ‒ Huldra, 0.5% Non-op assets: ‒ Brage, 33.8% ‒ Gudrun, 15.0% ‒ Veslefrikk, 27.0% ‒ Visund, 7.7% ‒ Mikkel, 7,65% ‒ Tambar East, 9.8%
Our mission is to be an energy company committed to a sustainable world. More than 25 000 people working toward one common goal: Developing efficient and environmentally sustainable energy systems
Repsol - Net zero emissions company by 2050 Our goal: We aim to achieve net zero emissions by 2050, making us the first oil and gas company in the world to assume this ambitious goal. 2025 2030 - - 10% 2040 In order to achieve the goal, we will: 20% • Reduce greenhouse gas emissions with - Repsol’s carbon intermediate targets. 40% • Apply the best available technology. intensity • Direct all our activities and investments. indicator reduction goals 2050 Net zero emissions in 2050
Repsol’s strategy in Norway Steadily increasing value and resilience, lowering carbon footprint and always staying safe. “To Repsol, Norway represents an opportunity for sustained growth. We believe we have a lot to contribute with and will continue to create value for the Norwegian society, in a sustainable manner and with a minimum carbon footprint. Our ambition is to become a zero-emission operator on the Norwegian Continental Shelf by 2030.” Vidar Nedrebø, Managing Director, Repsol Norge
Focus areas for Repsol in Norway Value and resilience, Lowering carbon Digitalization always staying safe footprint
Enableling marginal fields to be cost effective ? Source: NPD (2019 report) https://www.npd.no/
Focus areas for Repsol Norway Examples of development activities that is supported from Repsol Norway
Topics of interest for Repsol Norge • Technologies that secure and enhance safety level - always • Technologies that enables subsea leak detection to be equally robust as topside • Technologies that enable longer tie-backs and resolves subsea flow assurance challenges – e.g. cold flow • Technologies that lead to IOR/production optimization • Standardization of SURF/SPS equipment & subsea construction solutions Value and resilience, always • Technologies that improve cost efficient operations – now more than ever staying safe • Technologies that reduce power consumption – lowering emmissions and efficiency / cost • Technologies that reduce vessel-days during installation and operation – efficiency / cost • Technologies that remove / reduce vessel fuel consumption - lowering emmissions • Technologies that reduce resource consumption in life cycle – circular economy / additive manufacturing etc. Lowering carbon • All-electric subsea technology footprint • Technologies that enable efficient value chain – sharing economy / additive manufacturing etc. • Technologies that enable remote and autonomous operations • ‘Digital subsea’ technologies - Data-driven analytics and statistics, e.g. virtual flow metering, analytics-driven subsea issues detection Digitalization
Thank you!
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