ONE-Dyas Going Ahead With $500MM North Sea Gas Field Development

ONE-Dyas Going Ahead With $500MM North Sea Gas Field Development
ONE-Dyas has made a final investment decision for the development of the N05-A gas field in the North Sea.

ONE-Dyas, together with partners EBN and Hansa Hydrocarbons, has made a final investment decision for the development of the N05-A gas field in the North Sea.

The decision involves an investment of more than $500 million ($490.4 million). This makes it the largest investment in a natural gas development in the Netherlands in the past 15 years.

The Dutch Ministry of Economic Affairs and Climate has awarded the final permits for the development of the N05-A gas field in the North Sea on June 3, 2022. This was preceded by a permitting process during which ONE-Dyas had regular and proactive discussions with multiple stakeholders.

"This is an important step for the energy supply of the Netherlands and Germany, providing safe and responsible domestic natural gas. With this investment decision, we have demonstrated that we are serious about the energy transition. As an operator, and together with our partners, we want to actively contribute to the security of supply of natural gas to North-West Europe and we are taking a major step in reducing CO2 emissions.”

“We are bringing emissions close to zero as the nearby offshore Riffgat wind park will supply the N05-A platform with wind energy. We have agreed to produce natural gas from the GEMS area only as long as there is domestic demand for natural gas in the Netherlands and Germany," Chris de Ruyter van Steveninck, CEO of ONE-Dyas, said.

The company said that the energy transition required cooperation between all stakeholders. For this project, ONE-Dyas is exploring opportunities for nature-inclusive construction, further system integration between wind and gas, and opportunities that can contribute to research and nature development in the area.

In awarding the final permits, the Dutch Government expressed its confidence in the need and necessity of this North Sea natural gas. Germany also stated support for this project.

“The support of both countries has contributed to the project now entering a phase of concrete preparations and investments, which ensures that this domestic natural gas will be available to Dutch and German households ahead of the winter of 2024,” ONE-Dyas stated.

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