OUR MARKET
Offshore Platforms
Offshore Oil & Gas Platform Integration
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Our deep water application device, called ogWAVE™, is capable of connecting with oil and gas platforms as well as installations in more remote areas.
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Almost all offshore oil and gas wells face severe challenges associated with the remote and isolated nature of the exploration locations. One such challenge is the supply of electrical power to support exploration activities in oil and gas platforms.
Our Market
Conventional methods using diesel generator sets have proven severely insufficient due to reliability, maintenance and refueling costs. Other approaches leveraging umbilical power cables from the shore are cost prohibitive ranging from $1M to several $M per km.
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The ogWAVE™ design wave energy converter is designed to either attach to the legs of these oil & gas platforms or moored near the platforms to provide them with renewable energy. This offers the Oil & Gas market potential new solutions that could drive down project Operational Costs (OPEX). This could also help to make current fields that offer low commercial returns more attractive for development.
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Furthermore, the depletion of the resources extractable from the current offshore exploration sites means operators will face the need to consider ways in which to either reuse these platforms for further value or fork out large decommissioning costs. ogWAVEs can be incorporated into these platforms for production of renewable energy at the end of their operating cycle.
Offshore Wind Platform Integration
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Our aquaWAVE™& ogWAVE™ application can also be designed for integration with offshore wind turbines taking advantage of the synergies between the control system, electrical equipment and subsea cable to produce very attractive low LCoE hybrid wind and wave energy from one set of offshore foundation.
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Rendered image of a hybrid wave & wind energy device on the 'aquaWAVE™' shallow water gravity foundation.