| dc.description.abstract | This thesis assesses the economic viability of adopting alternative fuels in Norwegian wellboat operations, focusing on LNG, Ammonia, Green Methanol, and Hydrogen versus a conventional fuel, Marine Diesel Oil (MDO). With the maritime industry under pressure to reduce emissions, this study utilizes Net Present Value (NPV) calculations and Monte Carlo simulations to explore the financial implications of different fuels under current economic and regulatory conditions and run a scenario analysis to understand an implementation of carbon tax, and different fuel prices.
The findings indicate that while LNG emerges as the most feasible alternative fuel for wellboat operations along the Norwegian coast, but MDO continues to offer a more favorable economic outcome under existing market dynamics. The analysis highlights the challenges of high initial costs and fuel price volatility, suggesting that effective policy support and ongoing innovation are necessary for aligning economic and environmental goals for the industry to transition to more sustainable practices. | |