TechnipFMC, Sulzer Team Up on CO2 Pumps for Petrobras

TechnipFMC plc FTI, a leading subsea equipment and services provider, joined forces with Sulzer Flow Equipment to develop innovative subsea carbon dioxide (CO2) pump solutions. These supercritical CO2 pumps, being created and tested for Petrobras PBR, are essential to the Brazilian energy company's High-Pressure Separation Technology (HISEP). This collaboration, initiated in 2017, is aimed at revolutionizing the energy sector by enhancing efficiency and reducing emissions.

Development and Testing of Supercritical CO2 Pumps

Background and Collaboration: Since 2017, FTI and Sulzer have been working together to create high-pressure centrifugal pumps tailored for Petrobras' HISEP pilot project. This project is located in the Brazilian pre-salt oil region, an area rich in oil and CO2 gas. Sulzer has provided three customized 6-megawatt pumps, which would undergo rigorous testing and validation at the Federal University of Itajuba.

The HISEP Technology: PBR's HISEP technology is a revolutionary process designed to separate CO2-rich natural gas from oil at the seabed. This technology promises significant improvements in energy efficiency and productivity for floating production storage and offloading (FPSO) vessels, alongside cost reductions and emission decreases.

Efficiency and Environmental Impact: Currently, the associated rich CO2 gas processed on FPSOs must be treated and recompressed using large, energy-intensive compressors. The new pump technology by Sulzer and FTI aids immediate separation and reinjection of CO2 gas at the seabed, 2000 meters below the water line. Thus, it is expected to enhance the efficiency of FPSO and reduce the carbon footprint.

Advantages of the New CO2 Pump Technology

Energy Efficiency and Cost Reduction: By eliminating the need to process CO2 on the FPSO, the new pump technology allows significant energy savings and frees up valuable topside space. This innovation highlights Sulzer's commitment to advancing pump technology and driving more efficient and profitable growth.

Technological Innovation and Leadership: FTI's leadership in subsea processing and technology innovation is crucial for the HISEP project. The collaboration with Sulzer exemplifies how integrated solutions could deliver sustainable benefits. Luana Duffe, executive vice president for New Energy at FTI, highlighted the shared journey of innovation and the importance of partnerships in achieving technological advancements.

The Mero 3 HISEP Project

Deployment and Stakeholders: The HISEP project will be deployed at the Mero 3 development in Brazil's pre-salt oil region, a site characterized by a 50/50 mix of oil and CO2-rich gas. PBR operates the Mero field with a 38.6% stake, while consortium partners Shell plc's SHEL subsidiary Shell Brasil, TotalEnergies SE TTE, CNOOC Limited, CNPC and Pré-Sal Petróleo S.A. hold the remaining shares. SHEL and TTE currently have a Zacks Rank of #3 (Hold) each.

Strategic Importance: Mero is Brazil's third-largest oil field by volume, following Tupi and Búzios. The deployment of the HISEP technology at Mero 3 highlights its strategic importance, promising to enhance oil recovery and reduce environmental impact in one of the world's most significant oil reserves.

Prospects and Industry Impact

Enhancing Production and Sustainability: The HISEP technology's ability to separate CO2-rich gas at the seabed is a game-changer for the oil and gas industry. By improving energy efficiency and reducing emissions, this technology supports the industry's shift toward more sustainable practices.

Broader Applications and Innovations: The success of the HISEP project might open the way for broader applications of subsea CO2 separation and reinjection technologies. As energy companies worldwide seek to reduce their carbon footprints, innovations like these will become increasingly vital.

Long-term Benefits: The long-term benefits of the HISEP technology include enhanced oil recovery, reduced operational costs and a lower environmental impact. These advantages position Petrobras, TechnipFMC and Sulzer as leaders in the transition toward more efficient and sustainable energy production.

Conclusion

FTI and Sulzer's collaboration on subsea CO2 pump solutions marks a significant advancement in energy technology. By developing and testing supercritical CO2 pumps for PBR's HISEP technology, these companies are setting new standards in efficiency, sustainability and innovation. The deployment of the HISEP project at the Mero 3 development in Brazil's pre-salt oil region highlights the strategic importance of this technology in one of the world's most significant oil reserves. As the energy industry grows, FTI and Sulzer's innovations will be critical to driving cleaner, more efficient and profitable growth.

Zacks Rank

Currently, FTI and PBR carry a Zacks Rank #3 each.

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