Lundin Energy Norway is collaborating with Ocean Harvesting Technologies through a study on how installation of wave energy converters could provide clean, stable and cost-effective electricity to an offshore oil and gas platform.

April 28^th, 2021. In a future aligned with a 2-degree pathway, oil still plays an important role and is estimated to account for around 23% of the global energy mix in 2040, compared to 31% today. But in order to meet both future energy demand and climate targets, it is critical to decarbonise the production of oil and gas as much as possible.

Lundin Energy’s carbon intensity per barrel of oil produced is approximately a sixth of the industry world average and the company will be one of the first oil and gas companies to achieve carbon neutrality from 2025.

To achieve carbon neutrality across operational emissions, Lundin Energy Norway’s key focus is on decarbonising extraction and production activities. The Company is collaborating with Ocean Harvesting Technologies through a new R&D study on how installation of wave energy converters could potentially provide clean, stable and cost-effective electricity to an offshore oil and gas platform.

The one-year project will run until February 2022 and will provide valuable data and information on how to electrify major offshore operations with wave power, as well as setting both Ocean Harvesting Technologies and Lundin Energy Norway at the forefront of decarbonisation of oil and gas production in support of the shift to a lower carbon and sustainable energy future.

Kristin Færøvik, Managing Director of Lundin Energy Norway, said:

”Lundin Energy Norway is a leader in decarbonisation. Our assets are already highly efficient and low-carbon. However, the challenges to the wider sector in decarbonising production can be significant, especially offshore. We are therefore excited to work with Ocean Harvesting Technologies to identify new ways of powering offshore activities with their innovative wave energy convertor solution.”

Mikael Sidenmark, CEO at Ocean Harvesting Technologies commented:

“This case study, aiming to develop a specification and system design for a wave power installation at an oil and gas platform, will provide valuable input for Ocean Harvesting Technologies in better understanding the requirements for such an installation. The project will guide us through the early validation stages of our commercialization. We are very excited for the opportunity to work with Lundin Energy Norway on this project.”

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Presserelease (ENG) 210428

Pressmeddelande (SVE) 210428

For more information, please contact

Frøydis Eldevik, Communications and External Relations Director, Lundin Energy Norway
froydis.eldevik@lundin-energy.com
+47 480 48 610

Mikael Sidenmark, CEO of Ocean Harvesting Technologies AB
mikael.sidenmark@oceanharvesting.com
+46 709 55 61 66

About wave energy

Wave energy is the largest untapped energy source in the world, with global energy content in waves estimated to be up to 30 000 TWh / year which is ten times the total electricity consumption of the European Union. With such an enormous global resource, wave energy has the potential to be a large source of clean energy in the world and an important part of the future energy mix.

About Lundin Energy

Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Our high quality, low-cost assets mean we are resilient to oil price volatility, and our organic growth strategy, combined with our sustainable approach and commitment to decarbonisation, firmly establishes our leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our App www.myirapp.com/lundin

About Ocean Harvesting Technologies

Ocean Harvesting Technologies is a Swedish company that develops the unique and patented InfinityWEC technology that transforms wave movements into clean, reliable and cost-efficient energy. InfinityWEC is a breakthrough modular and scalable wave energy conversion technology with an advanced power take-off system, based on the point absorber principle, capable of capturing and converting wave energy to electricity in a highly effective and cost-efficient manner.
Read more: www.oceanharvesting,com

InfinityWEC´s power take-off system (PTO) consists of ball screw actuators with torque motors and a pneumatic gas spring to provide cost effective instantaneous force control capability. An advanced optimal force control strategy is applied to maximize energy output as well as to limit buoy motions and PTO loads to reduce cost and ensure reliability and survivability of the system.

The main objective of the project is to design, build and test the InfinityWEC PTO in scale 1/10, with all main features of the machine and control system included. The system will be tested in a hardware-in-the-loop test rig setup that will simulate the wave-buoy interaction, i.e. the PTO will function as in a real sea trial, but in a fully controlled environment.

The project is an important step towards the next stage in OHT´s road map, sea trials with a scale 1/3 prototype of the InfinityWEC.

We are happy to announce that Ocean Harvesting are now a proud member of GCE Ocean Energy, a part of the government supported Norwegian Innovation Clusters programme. The main goal of the programme is to increase value creation through sustainable innovation. The GCE-programme is administrated through a cooperation between Innovation Norway, SIVA, and the Norwegian Research Council.

Norway is a great opportunity for wave power, despite almost all energy in the grid already being renewable in the form of hydro power. Also offshore industries such as oil platforms, fish farms and shipping are being converted to renewable energy, driven by political policy. Wave energy could power all of them. Norway is not only blessed with great oil reserves, they also have one of the best wave climates in the world.

Read more

The InfinityWEC design is updated with several improvements to reduce the Levelized Cost of Energy (LCoE). These updates are a big leap towards our objective to reach 100 EUR / MWh at 100 MW deployed capacity and 35 EUR / MWh at GW scale deployment.

Read more on Ocean Energy Europes web site.

We are proud to be showcased by NSK in their exhibition at the Tokyo Motor Show 2019. The NSK ball screws are key components in our InfinityWEC and are superior to manage the very tough requirements on high force, high efficiency, high velocity, long stroke length, and finally high conversion ratio from linear motion into rotary motion.

NSK press release

A presentation of InfinityWEC and an update on the ongoing cost optimization study was presented at the Swedish Energy Agency Havsenergiforum on 22 October 2019.

OHT simulation engineer Ahmed Rashid to present conference paper “Numerical Benchmarking of selected Efficiency-Aware Reactive Control Strategies on the InfinityWEC Wave Energy Converter”.

Conference web site

OHT was awarded 200 000 EUR in funding from Swedish Energy Agency for an LCoE based cost optimization study.

The main tasks of the project is to:

1. Validate the simulation model with a high fidelity CFD simulation (numerical tank testing).
2. Design review and development of a complete system design for a 100 MW wave farm installation.
3. Balance cost and performance on a component level through the system, to find the optimal configuration for lowest LCoE.

The main objective is to show an LCoE of 100 EUR / MWh at 100 MW deployed capacity (n:th unit in the learning curve model), and 35 EUR / MWh at GW scale deployment.