OEG Offshore makes multi-million investment to pursue net zero ambitions
OEG Offshore has made a multi-million investment in SEAJET Systems, the developer of a trailblazing electric subsea excavation solution that is said to reduce CO2 footprint by 40 per cent.
OEG Offshore said that the commitment to SEAJET is a further development in its move into the clean-tech sector and marks a significant milestone for the company’s net zero ambitions.
SEAJET’s controlled flow excavation (E-CFE) solution is said to be the world’s only dedicated all-electric solution for the offshore energy sector. The company has also recently patented the first-ever twin electric-powered version of the E-CFE technology.
According to the company, E-CFE can be deployed at every stage of a subsea project’s lifecycle, from pre-construction to execution, operations and maintenance, through to final decommissioning.
“This is an exciting investment for OEG Offshore as SEAJET launches its disruptive product to the market. We see major potential in the E-CFE technology, which is complementary to our wider service offering in the clean-tech, renewable and traditional offshore sectors,” said John Heiton, CEO of OEG Offshore.
“SEAJET’s experience and entrepreneurial drive will enable us to develop further technological enhancements to support the energy transition through disruptive technology.”
SEAJET said that the new technology has resulted in improvements in overall system performance, and reliability and significantly reduces health and safety risks on the vessel by eliminating hydraulic hoses and other components associated with older industry technology.
It is said to also reduce CO2 emissions and fuel costs by up to 40 per cent and eliminate the risk of high-pressure oil leaks into the marine environment.
The tools are currently being manufactured in the northeast of England and are set to be available for deployment later this year.