Renewable firm forges alliance to target O&G market
Renewable energy company Ocean Power Technologies (OPT) and HAI Technologies have formed an alliance which will focus on the offshore oil and gas sector.
OPT said on Monday that the duo would pursue mutual opportunities through a joint applications development and marketing agreement targeting oil and gas subsea chemical injection systems where persistent power and real-time data communications are critical.
For that purpose, OPT developed the PB3 PowerBuoy, a power and communication platform for remote offshore applications such as advanced multi-functional sensors, modular chemical injection systems for subsea oil production operations, and docking stations for subsea drones.
Dan Krohn, HAI Technologies General Manager, said: “HAI has experience in a variety of technologies and applications in the offshore oil and gas industry including subsea chemical systems.
“Chemical injection techniques are used to mitigate the diminishing effects of build up in piping and pumping systems used in subsea oil production operations.
“We believe HAI Technologies’ advanced chemical injection solutions, combined with OPT’s PB3 PowerBuoy, creates a unique opportunity to pair two distinctive offshore technologies creating new methods to deal with long distance and remote offshore field developments.”
Krohn added that combining subsea chemical injection components with a local surface power system such as the PB3 can reduce field development cost and can potentially make an impractical field practical.
George Kirby, OPT Chief Executive Officer, said: “Our PowerBuoy compliments HAI’s modular approach to chemical injection systems by providing cost-effective and persistent power and communications.
“We see a demand for innovative, cost-saving technologies in the offshore oil and gas industry, and we believe that HAI Technologies’ and OPT will deliver significant savings to our clients’ operations.”