Scottish wave energy specialist Mocean Energy and Norway-based offshore energy services provider Aker
Solutions Subsea have teamed up to explore how locally generated wave energy can extend the lifetime of
existing oil and gas hubs by accessing stranded reserves.

To this end, the two companies signed a memorandum of understanding (MoU) pledging to combine their
expertise in wave energy conversion and subsea-integrated solutions to develop a reliable, cost-effective means
of powering subsea infrastructure.

As disclosed, the agreement could culminate in the development of a pilot project in UK waters within two years.

The MoU includes undertaking feasibility, front-end engineering and design and concept studies for wave-
powered tiebacks. The studies will aim to identify the most economically and environmentally efficient solutions
to develop marginal reserves, especially in combination with energy storage.

According to partners, using wave energy and subsea energy storage to tie back stranded reserves could extend
the life of existing subsea production assets, reducing the need for new oilfield developments.

Mocean Energy and Aker said they will target the development of at least one concept study into a pilot project at
sea, through various routes, including multi-customer joint industry projects.

Aker Solutions will supply the complete ocean-power system, including overall subsea system integration,
system engineering support and subsea equipment plans.

Mocean Energy will supply the wave energy technology, wave-energy-specific project engineering and energy
analysis for remote power delivery.

Morten Pedersen, SVP Systems and Products, Aker Solutions, said: “Today there are remote, marginal pockets
within ageing fields that could potentially be powered with this technology at a lower lifetime cost than installing
new umbilical cables.

“If our pilot project proves feasible, this solution will benefit mature regions such as UKCS and NCS (the UK and
Norwegian continental shelves), enabling operators to maximize economic extraction from declining brownfields
and reduce the need for new oil and gas development, a vital step in the transition to net zero. This collaboration
could be highly beneficial for the industry globally.”

Cameron McNatt, Managing Director of Mocean Energy, added: “We are delighted to be working with Aker
Solutions, a recognized industry leader in subsea technology and decarbonization. Our collaboration will provide
customers with a complete solution to their power and communications needs that is reliable and low carbon.”

Mocean Energy is already a participant in a collaborative industry initiative called “Renewables for Subsea
Power” which is currently proving the concept of powering subsea equipment with wave power and intelligent
subsea energy storage.

The £2 million (€2.3 million) initiative, which is currently operational in Orkney, has connected Mocean Energy's
Blue X wave energy converter with a Halo underwater battery developed by Aberdeen intelligent energy
management specialist, Verlume.