US-based Ocean Power Technologies said Italian energy company Eni has extended its lease of a PB3 PowerBuoy for an additional 18 months. OPT has also been contracted for an additional scope of work to provide a power and communications solution for an entirely new application in the Adriatic Sea.
Following more than one year of continuous maintenance-free operation as part of an underwater autonomous vehicle charging pilot project off the coast of Italy in the Adriatic Sea, OPT will redeploy the leased PB3 PowerBuoy to provide power to systems on an unmanned, decommissioned gas production platform.
The offshore platform conversion project is exploring the potential of future ecologically sustainable life-extension strategies for oil and gas platforms at the end of their productive phase. With carbon-free power provided by the PB3 PowerBuoy and an OPT-designed power delivery system and interface, the project will assess the value of the platform to the ecosystem if left in place, as well as the viability of integrated aquaculture farming, recreational, and other uses.
“Eni is a leader in seeking sustainable business processes for the oil and gas sector. Eni’s continued confidence in the PB3 is a bellwether for offshore industries seeking to decarbonize operations while also reducing risk and operational costs,” said George Kirby, OPT President and Chief Executive Officer.
The PB3 PowerBuoy is designed for three years of operation between routine maintenance intervals, which allows OPT to rapidly reutilize the leased asset for Eni. The PB3 PowerBuoy will be relocated off Italy’s Abruzzo region coastline in July 2020 with OPT engineering support beginning immediately.