Ocean Power Technologies (OPT) and Acteon Field Life Service, a subsidiary of Acteon have entered into a non-exclusive memorandum of understanding to develop, explore and exploit mutual opportunities in the global oil and gas and renewable markets.
George H. Kirby, president and CEO of OPT, said: “We see a strong potential in this collaboration, where OPT’s PowerBuoy® products and services and Acteon’s integrated subsea services and solutions, coupled with its global network of facilities, personnel and market positioning, can provide significant value to our customers.”
OPT is currently collaborating with Acteon Field Life Service on an Exclusion Zone Monitoring project for Premier Oil in the Central North Sea.
The project will include the deployment of OPT’s PowerBuoy system, and surveillance and monitoring technology and a turnkey mooring and deployment solution provided respectively by Acteon operating companies, Pulse Structural Monitoring and InterMoor.
Tim Martin, vice president, Decommissioning at Acteon, stated: “Our goal is to enable customers to reduce the lifetime costs of owning and operating their subsea infrastructure. By using our own deep domain expertise in the subsea decommissioning sector and collaborating with carefully selected partners such as OPT, we can significantly reduce end-of-field-life costs for subsea oil and gas operators, while maintaining robust and safe operations for the benefit of all stakeholders. We look forward to working with OPT in this new collaboration in support of our wider strategy.”