Aker Solutions Subsea and Mocean Energy have partnered to extend the life of existing oil and gas centers by using wave energy.
The two companies have signed a memorandum of understanding (MoU) to combine their expertise in wave energy conversion and integrated subsea solutions to develop a reliable and cost-effective means of powering subsea infrastructure, Aker Solutions said in a statement of press
The deal could see a pilot project in UK waters within two years, the statement said. The project aims to use locally generated ocean energy to tie up stranded reservoirs, help tap new reserves from old oil and gas infrastructure, extend the life of existing assets and reduce the need for new oil field development .
The MoU includes conducting feasibility studies, front-end engineering and design and concept studies for wave-powered links. The studies will aim to identify the most economically and environmentally efficient solutions to exploit marginal reserves, especially in combination with energy storage, according to the statement.
The two companies will aim to develop at least one concept study in a pilot project at sea, through various routes, including joint multi-client industrial projects. Aker Solutions will supply the complete ocean energy system, including overall subsea system integration, system engineering support and subsea equipment plans, while Mocean Energy will supply the wave energy technology, engineering of specific projects for wave energy and energy analysis for remote energy supply. , according to the statement.
“Today there are remote and marginal pockets within aging fields that could be fed with this technology at a lower lifetime cost than installing new umbilicals,” said Morten Pedersen, vice president of systems and products at ‘Aker Solutions. “If our pilot project proves feasible, this solution will benefit mature regions such as the UKCS and NCS [the UK and Norwegian continental shelves], allowing operators to maximize economic extraction from declining brownfields and reduce the need for new oil and gas development, a vital step in the transition to net zero. This collaboration could be very beneficial for the industry globally.”
Mocean Energy and Aker Solutions are currently working on Renewables for Subsea Power, a $2.52 million (GBP 2 million) collaborative initiative that is “currently proving the concept of powering subsea equipment with wave energy and smart underwater energy storage,” the statement said. The initiative, which operates in Orkney in Scotland, connects Mocean Energy’s Blue X wave energy converter with a Halo underwater battery developed by Aberdeen-based smart energy management specialists Verlume, according to the release .
“Our collaboration will provide customers with a complete solution to their energy and communications needs that is reliable and low carbon,” said Cameron McNatt, CEO of Mocean Energy.
According to the company’s website, Mocean has secured more than $6.3 million (GBP 5 million) in financial support from the Scottish and UK and European Union governments to develop technology that can harness the energy of the waves, stating that “harnessing just one percent of our global wave The electrical resource would feed more than 50 million homes and save more than 50 million [metric tons] of [carbon dioxide] annually.” Its prototype Blue X model was deployed offshore in 2021 and provides data for its two core technologies currently under development, the Blue Star and Blue Horizon wave energy converters .
Proposed JV subsea
Meanwhile, a proposed subsea joint venture between Aker Solutions, SLB and Subsea7 has passed regulatory review, according to a separate Aker Solutions press release. The parties aim to close the transaction during the fourth quarter of 2023.
Following clearance from antitrust authorities in Brazil earlier this month, all necessary regulatory approvals and authorizations to close the transactions have been obtained, including the required authorizations in Angola, Mozambique, Australia, Norway, the United Kingdom and the USA, according to the statement. .
“The joint venture is planned as a milestone in the economics of subsea production, helping customers unlock reserves, reduce time to first oil, lower development costs and achieve decarbonisation goals,” said Aker Solutions. The three companies will bring together deep reservoir mastery and engineering design expertise, broad portfolios of field-proven subsea production and processing technology, world-class manufacturing scale and capabilities, and a complete set of lifecycle solutions for customers of all the world. according to the statement.
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