Potential of SKW Natural Gas Field as
Blue Hydrogen Producer with SMRCCUS
Mufair Team
Pertamina University
1
Potential of SKW Natural Gas Field as Blue Hydrogen Producer with
SMR-CCUS
Mufair Team
A Muhammad Athallah Naufal , Harith Maulana2, Nicholas Epsilon Nurcholis3
Pertamina University1,2,3
athanaufala@gmail.com1
1
Abstract
The energy diversification principle is to increase the competitive supply of users by prioritizing
the sustainability aspects. Thus, the strategy that can be done in maintaining the existence of oil
and gas amid an energy transition is to utilize the by-product of carbon dioxide into green
energy, such as blue hydrogen. The advantage of blue hydrogen production has a cheaper price
compared to fossil fuel that can increase consumer demands. Meanwhile, blue hydrogen can
reduce GHG emissions, which could play a significant role in the energy transition. The
technology of CCUS in the petroleum industry can be used for decarbonized hydrogen by Steam
Methane Reforming (SMR). Nevertheless, it has the risk that the ratio of viability-per-cost is
low, but has potential as fuel electricity through a Hydrogen Fuel Cell (HFC). HFC technology
is an alternative solution for future clean energy systems, which are characterized by a
continuous supply of reactants at the electrodes installed. In this report, we introduce BHFC
(Blue Hydrogen Based Fuel Cell) technology as a strategy to maintain oil and gas production.
In addition, we also improve the cumulative of gas production by using BCS (Booster
Compressor Station). We explain in detail the potential uses from various perspectives and
urgency and conduct a case study in the SKW Field to review its potential usefulness as a longterm energy asset. We also discuss from the perspective of ESG (Environmental, Social, and
Governance) and support future development projects.
Keywords: Booster Compressor Station, Blue Hydrogen, Hydrogen Fuel Cell, SMR-CCUS
Introduction
Energy is an essential need for all human beings in carrying out daily activities. Currently,
global energy sources are still dominated by the conventional energy sector, including oil and
natural gas. The oil and gas industry plays an important role in the world economy. Statistical
results from the BP Statistical Review of World Energy (2021) show, in 2020 the total
consumption of the oil and natural gas in the fuel sector reached 173.73 Exajoules and 137.62
Exajoules, respectively, both of which accounted for a total of 55.9% of the total energy
consumption in the fuel sector. Energy diversification campaigns, especially increasing the
scalability of renewable energy consumption, continue to be encouraged, but spontaneous
transitions have not been able to shift the dominance of the oil and natural gas sectors. Mainly
petroleum, this happens because it is affordable in meeting the needs of the community. The
advantages offered by petroleum are that it has a liquid phase so that it is easily accommodated
and distributed, has a high calorific value as a fuel source, has potential in the petrochemical
industry, and other advantages.
2
Fig 1. Natural Gas Production and Consumption (BP, 2021)
BP Statistical World Energy (2021) shows that the natural gas sector is still one of the most
sought-after global energy sectors, particularly in North America, CIS, and the Middle East.
The natural gas market in the Asian Region has also experienced a significant increase,
including Indonesia. Indonesia is richly endowed with natural resources. Its vast oil and gas
reserves have made it a significant player in the international oil and gas industry. Reserves,
however, continue to deplete as the scale of oil and gas exploration is small and the success rate
of exploration is low.
DEN (2019) states, oil, and gas (oil and gas) is still the largest energy source consumed in
Indonesia. For oil, it is about 49 percent, while gas is about 20 percent of the portion of the
national energy mix. The remaining 24.5 percent is met by coal and the rest is new and
renewable energy. Currently, energy diversification has become an echo in reducing the rate of
oil and gas production and increasing the renewable energy sector. However, the challenge
going forward is how to maintain the existence of natural gas production while prioritizing the
proportion of competitive energy diversification, so that the energy industry ecosystem remains
dynamic and healthy. The solution is taken, of course, needs to review various aspects,
including ESG (Environmental, Social, and Governance) and economic feasibility in order to
run optimally.
Theoritical Framework
1) The Current Condition of Energy in Indonesia
The COVID-19 (Corona Diseases Virus) Pandemic is still ongoing today. In an effort to
fight the COVID-19 pandemic, one of them is by limiting economic activity which significantly
impacts the disruption of economic development and global energy demand which results in a
global economic recession. Currently, the energy sector is still dominated by conventional
energy such as oil and gas. The impact of the pandemic even had time to make oil prices
plummet to a negative level in past 2020. However, the forecasting shows that the is increasing
on global oil price which is shown in the following graph.
Fig. 2 Forecasting Graph of Gas Price (EIA, 2021)
3
However, the threat of a global economic recession still follows, and certainly affects the
price of crude oil. Quoted from Widyastuti (2020), the cause of the drastic drop in petroleum
prices was due to decreased demand and excess supply, where the production process must
continue even though the oil price has decreased.
2) Increasing CO2 and GHG in Indonesia
Intergoverment Panel on Climate Change (IPCC) has commitment to limit the increasing the
global temperature less than 1.5 degree of Celcius before 2100, and reduce CO2 emission to
net-zero to avoid global warming. Indonesia's contribution is very important in reducing
greenhouse gas emissions because Indonesia was one of the 10 largest greenhouse gas emitting
countries in 2018 with emissions increasing by up to 140% between 1990 and 2017 (Ritchie,
2020). According to the Climate Transparency Report (2020), Indonesia must reduce emissions
to 662 MtCO2e in 2030 and 51 MtCO2e in 2050 as a mitigation effort to fulfill the Paris
Agreement.
Fig 3. Indonesia’s Commitment on Decarbonization (Climate Action Tracker, 2020)
In fact, the Indonesian government's climate targets are not in line with 1.5 degree of celcius
pathway and it is projected that greenhouse gas emissions will increase by 2 times from 2012
to 2030. According to Climate Transparency (2018), carbon emissions in the energy sector in
2018 reached 50tCO2e/TJ, carbon intensity in 2018 is still below the G20 average of
59tCO2e/TJ, but over the last 5 years from 2013 to 2018 it has increased by +9%. In 2019, the
contribution of greenhouse gas emissions from the energy sector was 638,452 Gigagram (Gg)
CO2e, an increase of 7.13% from the previous year and an average increase of 4.32% per year.
The Energy Producing Industry contributed emissions of 279,863 g CO2e from 3 subcategories,
namely power plants, oil refineries, and coal processing. The transportation category produces
emissions of 157,326 Gg CO2e with an increase of 7.17% per year. Meanwhile, other sectors,
such as the commercial and office and residential sub-groups, contributed 26,382 Gg CO2e of
emissions with an average increase of 0.02% per year. (Pusat Data dan Teknologi Informasi
ESDM, 2020).
3) The Future of Oil and Gas Energy in The Diversification Issues
Inside the industrial generation, after going through three decades, Oil and fuel faced
challenges in the issue of diversification and related to CO2 emissions as a result of fossil fuels
because the effects from the Oil and fuel industry that deliver attention through the community
to the ambitions that net-zero Emission (Johnston, 2020). in the meantime, figure 3 obtained
4
that the demand for Oil and gas within the network is getting higher consistent with the growth
every year (EIA, 2021).
Fig 4. Forecasting of Crude Oil Production vs Oil Consumption (EIA,2021)
To play a role in this issue according to (Beck, 2020, p. 3), the Oil and Gas Industry have to
as a minimum be able to have a target to achieve goal, and the target could make the demand
for oil and gas supply not fall to extremes given the growing fuel demand and It is proven in
Figure 5 that every year the demand has increased. Meanwhile, according to (Caineng, 2016)
Oil will continue to be stable until its height production in 2040. This can be one of the
sustainable resources in the future amid the energy mix with attention to clean energy.
Fig 5. World Liquid Fuels Consumption and components of annual change (EIA, 2021)
4) Maximize The Gas Production using Booster Compressor Station
Fig 6. Booster Compressor Station (BSC) for Improving Gas Production (Poushev, 2017)
Usually during the natural pressure drive period about half of the total gas reserve is
withdrawn, while field development using artificial lift allows to recover an additional 20% or
more of the total reserve. This is a significant amount that makes the booster compressor station
one of the most important elements of gas production. In its utilization, compressor drive and
compressor type were chosen for reasons of cost efficiency on the basis of the cost of energy
sources as well as considering equipment pooling, i.e. the presence of equipment of similar
5
capacity owned by the company is considered if the operating experience is positive, reliability
and maintenance are confirmed.
Potential of Blue Hydrogen for Natural Gas Field in Indonesia
The authors recommend building a BHFC (Blue Hydrogen Based Hydrogen Fuel Cell)
Technology: a new breakthrough for oil and gas resilience. This is because blue hydrogen has
a lower cost than other hydrogens. In addition, blue hydrogen is produced from CO2 and CH4
produced from the oil and gas field which is related to the challenges faced. This is also
supported by the fact that the use of blue hydrogen as a fuel cell is an environmentally friendly
technology and can fulfill the mission of the Paris Agreement (IEA, 2019).
Fig 7. Process Flow Diagram of Blue Hydrogen with CCUS (IEA, 2019)
In the process flow diagram above, to convert natural gas into hydrogen using the Steam
Methane Reforming method, several steps are carried out, including purification of natural gas
raw materials, pre-reforming, steam reforming, shift reaction/syngas heat recovery, raw
hydrogen purification. (IEAGHG, 2017). In the feedstock purification process, there are 2 steps
that are carried out to remove the content in natural gas such as methane, chloride, sulfur
compounds, namely the hydrogenation of organic sulfur and organic chloride compounds and
remove the content of H2S and HCl. In this pre-reforming stage, an adiabatic catalyst is used to
convert ethane and other heavy hydrocarbons, after which it is successful to produce a mixture
of gases such as methane, hydrogen, and carbon dioxide, followed by the SMR stage. At this
stage the mixture of steam and methane will react with a catalyst to produce crude synthetic gas
(syngas). The gas produced in the primary reformer process contains hydrogen gas with a
mixture of CO2. So, in the shift reaction process to get pure hydrogen gas, CO2 must be
transferred and captured with CCUS. The next stage is Pressure Swing Adsorption (PSA) which
can produce 99.9% high purity blue hydrogen. (IEAGHG, 2017).
6
Business Simulation for Blue Hydrogen Production in Indonesia: Case Study in SKW
Field
Fig 8. SKW Field Map (Google Earth)
In describing the implementation of BHFC (Blue Hydrogen Based Fuel Cell) technology,
we conducted a development simulation at the SKW Field located in Central Java Province,
Indonesia. The SKW onshore field is classified as a carbonate-type reservoir. This can be seen
from the oil and gas production from the Lower Miocene and Upper Oligocene reefs which
have very good porosity with permeable skeletal wackestone and skeletal packstone. The depth
of the reservoir owned by this field reaches 6300 ft TVDSS and has an initial reservoir pressure
of 2800 psi. The peak of hydrocarbon production from the SKW Field occurred in 2011, with
gas production of 7.5 MMSCF and 11,000 BOPD. One thing that must be considered from the
SKW Field is that the reservoir fluid was found to have CO2 of 20-25% of the total equivalent
mass, which was transferred to the Mudi Central Processing Area (CPA) for venting processing.
As one of the most productive fields, the recovery factor of this field is currently 36% with an
average reservoir pressure of 700 psi, and use Booster Compressor Station (BCS) to improve
the gas cumulative production. The additional assumptions are:
▪ Production Time
: 10 Years
▪ Total Reserves
: 35 BCF
▪ Production
: 7.5 MMSCFD
▪ Current Well Pressure
: 700 psia
▪ Target of Well Pressure : 1500 psia
Along with the increase in production, there is also a significant increase in CO2 emissions.
Thus, an integrated solution is needed, considering the vision of increasing oil and gas
production in Indonesia must be directly correlated with increasing CO2 emission production.
Currently, the management of CO2 emissions is still limited to CO2-EOR injection, which is an
effort to increase oil and gas production by using CO2 injection. However, as previously
explained, the current market for hydrogen energy is high, considering that the electrification
needs of the community are also increasing. To carry out this simulation, we first compare the
type of hydrogen fuel to other types of conventional fuel to determine the right solution. To
simplify the work, the following assumptions are made on table 1.
7
Table 1. Base Parameter for SMR-CCUS w/o Calculation in SKW Field
Assumption.
1
2
3
4
5
6
7
7
8
9
10
11
Parameter
Natural Gas Production
in SKW Field
Total Volume of CO2e
from Production
Blue Hydrogen Price
(USD/Kg H2) for SMRCCS
CAPEX for SMR-CCS
OPEX for SMR-CCS
Kilograms of CO2 per
Unit of Natural Gas
Volume
Hydrogen Equivalent
Total year for SMRCCS Installation
Total Blue Hydrogen
Production Year
NPV
CAPEX of Booster
Compressor Station
OPEX of Booster
Compressor Station
Information
15 MMSCFD
Source
ADB Technical Assistant's
Consultant Report, 2019
25% x 15
MMSCFD = 3
MMSCFD
ADB Technical Assistant's
Consultant Report, 2019
USD 2.9 for
Medium Gas Price
IEA, 2020
0.4 USD/Kg H2
Global CCS Institute, 2020
0.2 USD/Kg H2
Global CCS Institute, 2020
55.03 kg CO2/SCF
EIA, 2021
1 Kg of H2 = 423.3
SCG Gas
NREL, 2001
1 Year
-
10 Year
-
10%
-
20 Million USD
Kurz, 2019
200,000 USD
Kurz, 2019
Thus, the input parameters used for economic calculations are obtained as follows on table 2.
Table 2. The Input Parameter for Economic Calculation
Input.
Parameter
1
Hydrogen Production Per Day
Total CAPEX for SMR-CCS for 10 Years
Analysis
OPEX for SMR-CCS for 1 Year Analysis
Total OPEX for SMR-CCS for 10 Years
Analysis
Revenue Per Day
2
3
4
5
Calculation
Results
35,435.86
Kg/Day
51,736,357.19
USD
2,586,817.86
USD
25,868,178.6
USD
102,763.99
USD
Unit
8
And the results obtained are:
Cash Flow Profile of SKW Field
NPV Cumulative (USD)
40000000
20000000
0
-20000000
1
2
3
4
5
6
7
8
9
10
11
-40000000
-60000000
-80000000
Title
With BCS
Without BCS
Fig 9. Cash Flow Profile for SMR from Natural Gas
The NPV value obtained from SKW field production after the installation of the Booster
Compressor Station is 480,187,273.1 USD for 10 years. The IRR obtained from the calculation
results is 32%. Meanwhile, without the installation of a Booster Compressor Station, we got
233,457,265 USD with an IRR of 16%. By using Booster Compressor Station, there is a
cumulative increase in NPV of 51.38% IRR an increase of 16%.
Then, the next step is to calculate the economic simulation of the development of BHFC
(Blue Hydrogen Based Fuel Cell) technology based on the results of production in the SKW
field. The use of hydrogen fuel is a non-emissions fuel for generating electricity with oxygen
through a unit called a hydrogen fuel cell. The way BHFC technology works is similar to a
battery, where there is a positive pole (cathode) and a negative pole (anode). As with the
previous mechanism, blue hydrogen will flow towards the anode pole so that it will split the
hydrogen molecule into electrons and hydrogen ions. The flow of electrons contained in the
external circuit will produce electricity. Meanwhile, hydrogen ions will react with oxygen (O2)
and produce water vapor (H2O). Hydrogen fuel products are classified as clean because the byproduct of the process is only water vapor.
Fig 10. Fuel Cell System for BHFC Based (Deloitte, 2019)
The calculation results to determine the capital cost based on the input information obtained are
as follows.
9
Table 3. The Results of CAPEX Calculation for Each Fuel Cell System
Input
Parameter
1
2
3
4
PEMFC
PAFC
MCFC
SOFC
Calculation Result
Cost
Cost
Cost-Fuel
Storage
Electrolyzer
Cell (USD)
(USD/kWh)
(USD/kWh)
121,810,772.5 198,200.58
360,230
133,991,849.8 198,200.58
505,707.5
131,555,634.3 198,200.58
505,707.5
114,502,126.2 198,200.58
297,882.5
Total Cost
USD
122,369,203.1
134,695,757.8
132,259,542.4
114,998,209.2
As for the annual operating expenditure (OPEX), the following information is used for input.
Table 4. The input used for OPEX Calculation for Each Fuel Cell System
Parameter
1
2
3
4
5
Input of Blue Hydrogen Production for
Calculation of OPEX
ny - system lifetime (Years)
ir - The Annual Interest Rate (%)
CAPEX of BHFC Technology
PEMFC (USD)
PAFC (USD)
MCFC (USD)
SOFC (USD)
CRF (Capital Recovery Factor)
Hydrogen Fuel Price (USD/kWh)
Total of
Amount
10
10
122,369,203.1
134,695,757.8
132,259,542.4
114,998,209.2
0.199252
0.135
And the total of annualized cost (OPEX) are:
Table 5. The Results of OPEX Calculation for Each Fuel Cell System
Input
Parameter
1
2
3
4
PEMFC
PAFC
MCFC
SOFC
Calculation Result
Annualized Cost
O&M
(USD/Year)
(USD/Year)
24,382,316.1
45,000
26,838,407.56
45,000
26,352,986.61
45,000
22,913,630.38
45,000
Total OPEX
USD/Year
24,437,316.1
26,893,407.56
26,407,986.61
22,968,630.38
Thus, the total Net Present Value (NPV) obtained for a production period of 10 years with an
interest rate of 10% is as follows.
10
Table 6. The Results Economical Analysis for BHFC Technology
Input
1
2
3
4
Parameter
PEMFC
PAFC
MCFC
SOFC
Summary of Calculation
NPV (USD) @Interest Rate = 10%
136,600,322.4
110,040,197.1
116,168,562.9
159,589,913
IRR
16%
12%
12%
19%
Then, the carbon dioxide absorbed by the CCUS will be used as an oil and gas field
injection material through the CO2-EOR mechanism The results of the literature study show an
increase in cumulative production of oil and gas with the CO2-EOR scheme which is presented
in the following graph.
Fig 11. The relevance of CO2-EOR injection to increase Gas production (ADB, 2019)
Conclusion
The resilience of the oil and gas sector is important in the midst of energy transition issues,
particularly related to carbon emissions. As a result of that, the authors recommend building a
BHFC (Blue Hydrogen Based Hydrogen Fuel Cell) Technology: a new breakthrough for oil
and gas resilience. This is because blue hydrogen has a lower cost than other hydrogens. The
strategy for using BHFC technology with CCUS integration is able to convert blue hydrogen
from carbon dioxide emissions in oil and gas production into electrical energy with large
capacity and prioritize the principle of sustainability. Beside of that, by using Booster
Compressor Station (BCS) technology, there is a cumulative increase in NPV of 51.38% IRR
an increase of 16%.
Suggestion for Future Improvement
In determining the future improvement solutions from the blue hydrogen fuel cell technology
that developed, using the PESTLE analysis, as shown on the figure below. In determining the
future improvement solutions from the blue hydrogen fuel cell technology that developed, using
the PESTLE analysis, as the political aspect, in this case by making a transition to a low-carbon
transition from IPCC regulations, namely efforts to keep global temperatures below 1.5° C. In
addition, by supporting the implementation of ESG which is an important factor in finding
investors, a supportive policy framework to increase hydrogen, and supporting the acceleration
of the RUEN (National Energy General Plan) on the energy mix to run according to the
scenario. In addition, it also establishes hydrogen standards, and R&D (HyTrEc, 2018).
11
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Activity in the Natural Gas Processing Sector. ADB Consultant. [Accessed on
November, 1th 2021].
BP. 2021. Statistical Review of World Energy 2021 [Accessed on November, 1th 2021].
Felshegi, Raluca-Andreea, Elena Carcadea, and Maria S. Raboaca. 2019. Hydrogen Fuel Cell
Technology for The Sustainable Future of Stationary Application.
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Howarth, R. W., & Jacobson, M. Z. (2021). How green is blue hydrogen?. Energy Science &
Engineering. https://doi.org/10.1002/ese3.956 [Accesed October, 28th 2021]
HyTrEc. (2018). Hydrogen Supply Chain Mapping Report. [Accessed on October, 14th 2021].
IEA. (2019). The Future of Hydrogen. IEA. [Accessed on October, 16th 2021].
IEA. (2020). The Oil and Gas Industry in Energy Transitions Insights from IEA Analysis.
[Accessed on October, 17th 2021].
IEAGHG. (2017). IEAHG Technical Report . Hatherley Lane, Chelthenham: IEAGHG.
[Accessed on October, 18th 2021].
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KESDM. (2017). Peraturan Presiden Republik Indonesia Nomor 22 Tahun 2017 Tentang
Rencana Umum Energi Nasional. Jakarta.
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2021].
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methods: Green, blue, and aqua hydrogen," International Journal of Hyrogen Energy 46
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Mallon, Wim & Buit, Luuk & Wingerden, Janneke & Lemmens, Han & Eldrup, Nils. (2013).
Costs of CO2 Transportation Infrastructures. Energy Procedia. 37. 2969-2980.
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October, 19th 2021].
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Naghiu, George Sebastian, Ioan Guirca, and Ioan Aschilean. 2016. Comparative Analysis on
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13
Nomenclatur:
BHFC
CCUS
IRR
MCFC
NPV
PAFC
PEMFC
PSA
SMR
SOFC
: Blue Hydrogen Fuel Cell
: Carbon Capture Utilization and Storage
: Internal Return of Rate
: Molten Carbonate Fuel Cell
: Net Present Value
: Phosphoric Acid Fuel Cell
: Proton Exchange Membrane Fuel Cell
: Pressure Swing Adsorption
: Steam Methane Reforming
: Solid Oxide Fuel Cell
14
APPENDIX A
Hydrogen Production with SMR-CCUS from Natural Gas Field using Booster Compressor Station (BCS)
Year
Production Year
CAPEX
(USD)
OPEX
(USD)
PRODUCTION PER YEAR
(Kg/Year)
2021
0
71736357.19
2022
1
4586817.86
12934089.3
2023
2
4586817.86
2024
3
2025
2026
2027
2028
2029
2030
2031
4
5
6
7
8
9
10
REVENUE
(USD)
NPV
(USD)
71736357.19
29929128.28
PV Cumulative Cash Flow
(USD)
37508858.97
CASH FLOW
(USD)
71736357.19
32922041.11
12934089.3
37508858.97
32922041.11
27208298.43
-14598930.48
4586817.86
12934089.3
37508858.97
32922041.11
24734816.76
10135886.28
4586817.86
4586817.86
4586817.86
4586817.86
4586817.86
4586817.86
4586817.86
12934089.3
12934089.3
12934089.3
12934089.3
12934089.3
12934089.3
12934089.3
37508858.97
37508858.97
37508858.97
37508858.97
37508858.97
37508858.97
37508858.97
32922041.11
32922041.11
32922041.11
32922041.11
32922041.11
32922041.11
32922041.11
22486197.05
20441997.32
18583633.93
16894212.66
15358375.15
13962159.22
12692872.02
32622083.33
53064080.65
71647714.58
88541927.24
103900302.4
117862461.6
130555333.6
-71736357.19
-41807228.92
15
APPENDIX B
Hydrogen Production with SMR-CCUS from Natural Gas Field without using Booster Compressor Station (BCS)
Year
Production
Year
CAPEX
OPEX
(USD)
61736357.19
(USD)
PRODUCTION
PER YEAR
(Kg/Year)
2586818
9053863
REVENUE
CASH FLOW
NPV
(USD)
26256201
(USD)
-61736357.19
23669383.42
(USD)
-61736357.19
21517621.29
PV Cumulative Cash
Flow
(USD)
-61736357.19
-40218735.91
2021
2022
0
1
2023
2
2586818
9053863
26256201
23669383.42
19561473.9
-20657262.01
2024
3
2586818
9053863
26256201
23669383.42
17783158.09
-2874103.92
2025
2026
2027
2028
2029
2030
2031
4
5
6
7
8
9
10
2586818
2586818
2586818
2586818
2586818
2586818
2586818
9053863
9053863
9053863
9053863
9053863
9053863
9053863
26256201
26256201
26256201
26256201
26256201
26256201
26256201
23669383.42
23669383.42
23669383.42
23669383.42
23669383.42
23669383.42
23669383.42
16166507.35
14696824.87
13360749.88
12146136.25
11041942.05
10038129.14
9125571.941
13292403.43
27989228.3
41349978.18
53496114.43
64538056.48
74576185.62
83701757.56
16
APPENDIX C
Cash Flow of Protom Exchange Membrane Fuel Cell (PEMFC)
Year
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Production
Year
0
1
2
3
4
5
6
7
8
9
10
CAPEX
OPEX
(USD)
122369203.1
(USD)
PRODUCTION PER
YEAR
(kWh/Year)
24427316
24427316
24427316
24427316
24427316
24427316
24427316
24427316
24427316
24427316
426824946.8
426824946.8
426824946.8
426824946.8
426824946.8
426824946.8
426824946.8
426824946.8
426824946.8
426824946.8
REVENUE
CASH FLOW
NPV @10%
(USD)
(USD)
-122369203.1
34047701.62
34047701.62
34047701.62
34047701.62
34047701.62
34047701.62
34047701.62
34047701.62
34047701.62
34047701.62
(USD)
-122369203.1
30952456.01
28138596.38
25580542.16
23255038.33
21140943.93
19219039.94
17471854.49
15883504.08
14439549.17
13126862.88
58475017.72
58475017.72
58475017.72
58475017.72
58475017.72
58475017.72
58475017.72
58475017.72
58475017.72
58475017.72
PV Cumulative
Cash Flow
(USD)
-122369203.1
-91416747.07
-63278150.69
-37697608.53
-14442570.2
6698373.732
25917413.67
43389268.16
59272772.25
73712321.41
86839184.29
17
APPENDIX D
Cash Flow of Phosphoric Acid Fuel Cell (PAFC)
Year
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Production
Year
0
1
2
3
4
5
6
7
8
9
10
CAPEX
OPEX
(USD)
134695757.8
(USD)
PRODUCTION PER
YEAR
(kWh/Year)
26883408
26883408
26883408
26883408
26883408
26883408
26883408
26883408
26883408
26883408
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
REVENUE
CASH FLOW
NPV @10%
(USD)
(USD)
-134695757.8
32176360.33
32176360.33
32176360.33
32176360.33
32176360.33
32176360.33
32176360.33
32176360.33
32176360.33
32176360.33
(USD)
-134695757.8
29251236.67
26592033.33
24174575.76
21976887.05
19978988.23
18162716.57
16511560.52
15010509.56
13645917.79
12405379.81
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
PV Cumulative
Cash Flow
(USD)
-134695757.8
-105444521.2
-78852487.83
-54677912.07
-32701025.02
-12722036.79
5440679.788
21952240.31
36962749.87
50608667.66
63014047.46
18
APPENDIX E
Cash Flow of Molten Carbonate Fuel Cell (MCFC)
Year
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Production
Year
0
1
2
3
4
5
6
7
8
9
10
CAPEX
OPEX
(USD)
132259542.4
(USD)
PRODUCTION PER
YEAR
(kWh/Year)
26397987
26397987
26397987
26397987
26397987
26397987
26397987
26397987
26397987
26397987
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
REVENUE
CASH FLOW
NPV @10%
(USD)
(USD)
-132259542.4
32661781.29
32661781.29
32661781.29
32661781.29
32661781.29
32661781.29
32661781.29
32661781.29
32661781.29
32661781.29
(USD)
-132259542.4
29692528.44
26993207.68
24539279.71
22308436.1
20280396.45
18436724.05
16760658.22
15236962.02
13851783.66
12592530.6
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
PV Cumulative
Cash Flow
(USD)
-132259542.4
-102567013.9
-75573806.26
-51034526.56
-28726090.46
-8445694.009
9991030.038
26751688.26
41988650.28
55840433.94
68432964.54
19
APPENDIX F
Cash Flow of Solid Oxide Fuel Cell (SOFC)
Year
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Production
Year
0
1
2
3
4
5
6
7
8
9
10
CAPEX
OPEX
(USD)
114998209.2
(USD)
PRODUCTION PER
YEAR
(kWh/Year)
22958630
22958630
22958630
22958630
22958630
22958630
22958630
22958630
22958630
22958630
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
431093196.3
REVENUE
CASH FLOW
NPV @10%
PV Cumulative Cash Flow
(USD)
(USD)
-114998209.2
36101137.52
36101137.52
36101137.52
36101137.52
36101137.52
36101137.52
36101137.52
36101137.52
36101137.52
36101137.52
(USD)
-114998209.2
32819215.93
29835650.84
27123318.95
24657562.68
22415966.07
20378150.98
18525591.8
16841447.09
15310406.44
13918551.31
(USD)
-114998209.2
-82178993.3
-52343342.46
-25220023.51
-562460.8319
21853505.24
42231656.22
60757248.01
77598695.1
92909101.54
106827652.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9
59059767.9