Hyundai E&C has laid the foundation for R&D and demonstration of CCS (Carbon Capture and Storage) utilizing the Donghae Gas Field, which will become the largest CO2 storage tank in Korea.
On July 12th(Wednesday), Hyundai E&C signed a contract with Korea National Oil Corporation (KNOC) to carry out the Pre-FEED for the CCS Demonstration Project utilizing the Donghae Gas Field.
The CCS demo project utilizing the Donghae Gas Field involves capturing and storing 1.2 million tons of CO2 annually at the depleted Donghae Gas Field and aims to achieve the NDC target and commercialize the technology by realizing safe and economical CCS. The project, which will be the first in Korea to commercialize CCS, is scheduled to run from 2025 to 2030. Prior to this, for six months, Hyundai E&C will prepare a facility construction plan for the pre-feasibility study and perform pre-FEED for the successful kick-off of the demo project.
The Donghae Gas Field is located 58 km southeast of Ulsan and was first discovered in 1998, with production beginning in 2004. It is the only oil production facility in the country, with the gas production officially ending on December 31, 2021. The depleted reservoir holds a wealth of data from the exploration, development, and production process and has sufficient storage capacity, making it ideal for CO2 storage.
*Reservoir: A layer of crude oil and natural gas deposited underground.
Hyundai E&C will perform a pre-FEED for existing facilities such as offshore platforms and subsea injection systems that were operated during natural gas production, as well as new facilities such as hub terminals and pipelines, and infrastructure in the onshore and offshore areas required for CO2 transportation and storage. By doing so, design specifications and conceptual designs will be derived, and standards necessary to proceed with the CCS project at the Donghae Gas Field will be established, including technical specifications for each construction type, a list of required equipment, licensing items, and project costs.
As the results of the pre-FEED will be used as a basis for establishing policies and implementation strategies for the overall CCS project utilizing the Donghae Gas Field, Hyundai E&C plans to mobilize all of its technical capabilities acquired through related projects and research. The company has unrivaled capabilities in performing FEED and EPC (Engineering-Procurement-Construction) for natural gas plants with track record in Boryeong Clean Hydrogen Project, LNG Downstream Project in Papua New Guinea, and the Al Zour LNG Import Terminal in Kuwait, and developing source design technology for underground storage of CO2 through CCUS (Carbon Capture, Utilization and Storage) research.
In addition, Hyundai E&C plans to enhance its competitiveness across all areas from design to construction of CO2 storage facilities by upgrading core technologies in the field of underground CO2 storage.
Meanwhile, Hyundai E&C is further consolidating its position as a CCS leader by participating in global joint research on CCS optimal storage design and facility conversion technology utilizing depleted gas fields in Southeast Asia and the Netherlands, and establishing a cooperation system with technologically advanced countries. In addition, based on its capabilities in designing wet capture facilities for capturing large amounts of CO2, the company is striving to strengthen its global technological edge by conducting research across the entire CCUS value chain, including the development of CO2 capture, liquefaction, and utilization technology for blue hydrogen production as a lead company for a national project of the Ministry of Science and ICT.
An official from Hyundai E&C explained, “Hyundai E&C has been continuously investing in research and development of new projects for carbon neutrality and has established a system to actively respond to new energy conversion projects," adding that, "Starting with this project, which is the first CCS commercialization project in Korea, we will not only accelerate our entry into domestic and overseas CCS business, but also endeavor to realize global net zero.”
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