Norway has awarded a NOK10 million (£900,000) grant for subsea technology research.
The Research Council of Norway has provided technology firm ABB funding to develop equipment for use on the Norwegian continental shelf and the Barents Sea.
It is the third grant of its kind awarded to ABB – previous funding rounds, both in 2016, totalled NOK20 million (£1.8m).
ABB is currently engaged in a five-year joint industry program to develop electrical and control equipment to move oil production systems from surface platforms to the sea bed.
It aims to create products that can transmit up to 100MW of electrical power over a distance of 600km and which can operate at a water depth of 3,000m for 30 years with little or no maintenance.
Per Erik Holsten, Managing Director of ABB’s Oil, Gas and Chemicals business, said: “We are pleased to receive this important contribution to our development of subsea power solutions. This award recognizes ABB’s continued innovation in subsea technologies around the world.
“The research result will contribute to the creation of a complete subsea factory; turning the vision of leading oil and gas companies into reality.”
Offshore oil and gas decommissioning in the UK and Norway is expected to rise “gradually but steadily” in the next 10 years.