OPT to Launch PowerBuoy Technology for Oil and Gas Sector at Offshore Europe

Ocean Power Technologies Ltd (OPT), the world-leading supplier of moored, floating buoys that harvest energy from waves, announced that it has chosen Offshore Europe to launch its PowerBuoy technology into the global oil and gas sector.

Already demonstrated in the defence, renewables and utilities sectors, The PowerBuoy is capable of delivering energy from a few kiloWatts (kW) to several 100 kW, and has been successfully deployed in Hawaii, UK and New Jersey.

The PowerBuoy moves freely up and down with the rise and fall of waves. The resultant mechanical stroking is converted via a sophisticated power take-off to drive an electrical generator. This power is then transmitted to external equipment via an underwater power cable, or direct to a payload integrated into the buoy’s structure.

Tim Stiven, Managing Director of Ocean Power Technologies Ltd, said: ”At OPT we have broad experience in developing products for applications that work across industry boundaries. Having successfully transferred the PowerBuoy from renewables to the defence sector, we are confident, as a result of engagement with a number of representatives from the oil and gas sector, that our technology has the potential to redefine how power is generated and used offshore.”

Potential applications for the PowerBuoy include:

• UUV garages for permanent infield monitoring and inspection of assets

• Diesel replacement for energy generation on Oil & Gas platforms

• The control of electric trees for CO2 / water field injection

• Environmental monitoring for pre-post deployment

• Real-time on site field monitoring / sensing systems for 4D reservoir analysis and pre/post deployment surveys

• Security cordons for offshore developments

• Temporary navigational markers for surface & submerged structures

With future evolution of the technology planned to deliver even larger energy supplies, the PowerBuoy has the potential to redefine how platforms may be powered, providing solutions that will drive down operational and capital costs, and in particular help make current fields that offer low commercial returns more attractive.

“Our technology is robust – with one of our PowerBuoys deployed for the US Navy remaining operational throughout Hurricane Irene – and it has also shown to generate strong revenue. Its wide range of potential applications only serves to strengthen its commercial capability,” continued Mr. Stiven. “We believe that ultimately the PowerBuoy can be used to reduce diesel and transportation costs, thereby having a positive commercial impact on offshore operations.

“As this is the 40th anniversary of Offshore Europe and we look towards the next 40 years of oil and gas production, we believe this is the perfect time and place to launch our technology to the sector.”

Press Release, September 03, 2013

 

 

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