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The agreement must be the largest oil company ever signed for renewable energy supply, writes Bloomberg. Exxon Mobil has a contract with the Danish company Ørsted for the production of slate oil from solar and wind energy in the Permian basin in Texas, the oil field whose growth is the fastest in the United States.
The increase in oil production from the slate fields – dense rocky areas – generally explains that oil prices have fallen in recent months, which means that the oil company Opec with Saudi Arabia will visit next week to consider reducing production.
The power agreement is 500 MW for 12 years – enough to power 400,000 US households with electricity. How much Exxon Mobile will pay for the power is not specified. But Bloomberg writes that the oil giant is now entering into a renewable energy deal because it has become cheap enough to compete with fossil fuel energy.
Investment in Ørsted is taking place in an area where demand for electricity is increasing sharply due to the increase in oil production. In the Delaware region, consumption has tripled since 2015 – and should do the same until 2022.
Exxon Mobil will purchase electricity from the Sage Draw wind turbine, which Ørsted will complete in 2020, and the Permian Solar solar installation, which will be completed in 2021.
Danske Ørsted is the former Dong Energy which, in 2016, sold its oil and gas activities in Norway to Fareo (as the oil company DNO now wants to buy). The following year, Dong ceded the rest of its oil and gas business and changed its name to Ørsted, due to a commitment to green energy.
Earlier this autumn, it appeared that Equinor (formerly Statoil) was planning to supply power generation to the North Sea Snorre and Gullfak fields with the help of wind turbines. floating.
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