Bluefin Energy - Floating Offshore Wind
Bluefin Energy - Floating Offshore Wind

Bluefin Energy

Bluefin Energy is a green energy development company dedicated to decarbonization utilizing cost-effective, proven technology solutions.  The company's initial projects will include the deployment of floating offshore wind turbines to power deep water oil & gas production platforms in the Gulf of Mexico, Canada, and South America.
Market Opportunity
Bluefin Energy - Gulf of Mexico

Market

The U.S. Environmental Protection Agency lists 121 separate oil and gas leases with existing production facilities in the Gulf of Mexico.  Each facility has power generation equipment together with adequate export capacity for any natural gas displaced because of future offshore wind turbine installations.  On May 11, 2021, the Government of Canada - through its Ministry of Energy and Natural Resources (Natural Resources Canada) - awarded C$ 24.4 million to initiatives that can reduce greenhouse gas emissions from offshore oil and gas operations, which include floating offshore wind turbines to power oil and gas production platforms.  In South America, the FPSO (Floating, Production, Storage, and Offloading) offshore oil and gas market is projected to grow from US$ 4,338.40 million in 2021 to US$ 8,084.45 million by 2028.
Bluefin Energy - Electrification of Oil & Gas Production Platforms

Opportunity

Electrification of oil and gas production platforms in the Gulf of Mexico, Canada, and South America by utilizing offshore wind energy can extend the life of existing oil & gas assets, reduce greenhouse gas emissions (methane, carbon dioxide, and nitrous oxide), and be a cost-effective entry point to launch the floating offshore wind energy industry in the Americas.  The US Inflation Reduction Act of 2022 includes a provision that mandates the federal government offer new offshore leases in federal waters for oil and gas drilling prior to initiating new leases for offshore solar and offshore wind energy.