We use cookies
To help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Petrofac and Storegga enter strategic Alliance to fast-track net zero infrastructure

Net Zero Energy Talks

Petrofac and Storegga enter strategic Alliance to fast-track net zero infrastructure

Petrofac, the leading international service provider to the energy sectors, has entered a global Technical Delivery Alliance (“TDA”) with Storegga, an independent UK company pioneering carbon reduction and removal for a net zero world. - Petrofac

Under the Alliance, Petrofac will provide capabilities, people, processes and systems to reinforce the technical development and management of Storegga’s growing portfolio. This support will both accelerate and de-risk Storegga’s low carbon initiatives.

The TDA enables Petrofac and Storegga to combine their respective strengths; Petrofac as an established global engineering, project delivery and operations company providing life-of-asset solutions, and Storegga as a well-funded independent with proven, entrepreneurial development skills.
Today’s announcement builds on a previous Memorandum of Understanding, which positioned Petrofac and Storegga to collaborate on areas of business development. The strategic TDA enables infrastructure development, execution and operation; reinforcing Storegga’s operating capability and ambition to expand its portfolio in the fast-moving low carbon energy transition.

Achievement of the UK’s Net Zero ambition is very much contingent on the supply chain’s ability to fast track project delivery. Through this innovative industry Alliance, we will have the strengths and capabilities required to execute those projects and drive the transition. By developing capacity early, and anchoring jobs to the UK, the alliance will ultimately support future export potential.

We are thrilled to build on our existing relationship with Storegga, in support of each company’s stated growth ambitions in the new energy sector.

John Pearson, Chief Operating Officer of New Energy Services, Petrofac

With an extendable multi-year term and global remit, this partnership is anticipated to make a major contribution to delivering the 2030 and 2050 emission reduction targets here in the UK and internationally.

Storegga has greatly benefited from close cooperation with Petrofac to date. The Technical Delivery Alliance marries Petrofac’s world class engineering, project delivery and operational expertise to Storegga’s project development capability. These collaborative working practices are essential to fast-track delivery of critical net zero infrastructure.

The alliance will progress net zero projects from initial concept, through development, to full operations. Storegga’s mission is to rapidly deliver world scale carbon reduction and carbon removal projects at the pace so urgently needed.

Nick Cooper, CEO, Storegga

Relevant news

GO DIGITAL ENERGY
ABN AMRO fuels green innovation: Invests in SET fund IV's digital technology drive for a sustainable future
ABN AMRO is investing in data and digital technology companies that help to a zero-carbon society.
GO CIRCULAR
Mars pledges US$1B investment in net zero emissions plans
Mars has released its “Net Zero Roadmap,” setting targets to cut carbon in half by 2030.
GO NET ZERO ENERGY
Port of Aberdeen sets sail to become UK’s first net zero port
The Port of Aberdeen has revealed its intentions to invest £55 million in decarbonisation technologies over the next ten years
GO NET ZERO ENERGY
OEUK: UK’s energy security and net zero transition needs consensus across parties
Offshore Energies UK has boost the UK’s reliance on its own homegrown energy from the North Sea.
GO DIGITAL ENERGY
Real-Time data could be key in achieving Net Zero targets
According to Harvard Business Review, we are entering the new era of companies well-suited to the current macroeconomic climate through their ability.
GO NET ZERO ENERGY
The Green Deal Industrial Plan: putting Europe's net-zero industry in the lead
Green Deal Industrial Plan will support the fast transition to climate neutrality.