Flare2Value (F2V) signed an agreement with Occidental Oman (Oxy Oman), the country’s largest independent oil producer, under which F2V will construct and operate flare gas recovery facilities at the Mukhaizna Field, according to Times Of Oman.
According to the report, the project seeks to reduce emissions and create economic value from captured associated gas. With the project creating in-country value, F2V represents an ideal business model which delivers flare gas utilization solutions and modular solutions. F2V will efficiently make use of the available energy in high pressure associated gas.
“We are very pleased that Oman can provide a platform for innovation in the area of collecting and utilizing flared gas. What is even more pleasing is the alignment of this project and F2V business with our national aspirations, to reduce flaring of low pressure gases, reduce emission of greenhouse gases, build value in country, facilitate technology and know-how transfer and build a platform for further FDI into Oman. We are looking forward to rapid scale up: delivery of the follow up projects, first in Oman, and the expansion of flare out delivery capabilities,” said Salim bin Nasser Al Aufi, Undersecretary at Ministry of Energy and Minerals.
“As Oxy was the first US Oil and Gas company to endorse the World Bank’s “Zero Routine Flaring by 2030” initiative, we are proud to sign this agreement with F2V, in continuation of the company’s efforts to reduce routine flaring and maximize the use of natural gas as a valuable energy resource. Taking advantage of innovative solutions will allow Oxy to achieve net-zero in our operational and energy-use emission before 2040 and our total emissions inventory before 2050,” said Stephen Kelly, President and General Manager at Oxy Oman.