Product Validation of the NOV Subsea Storage System (Ph2)

Project Summary

Modular, reusable subsea liquid storage units to allow hydrogen (in form of ammonia), chemicals or oil, to be stored at ambient pressure in remote locations at any water depth. Project will develop, build, test and verify large scale prototype systems.

OUTCOMES

The value generation expected from a one-time technology deployment is £75M with a further £2.7M in reduced OPEX anticipated annually for one development. Assuming adoption on 5% of the undeveloped marginal fields would give £2.3BN in total across the Industry over the next 20 years. In addition, there is 10,000 tonne CO2 emissions saving over a 10-year period by utilising subsea storage over an FSO.