"We are excited to grant NOV this study to explore the business case for subsea chemical storage," says DeepStar's Project Champion. "This provides a tremendous opportunity to evaluate how NOV's innovative storage technology can potentially extend the life of brownfield developments and unlock new value for DeepStar members' energy assets. By enabling larger-volume storage closer to offshore operations, this solution has the potential to create major efficiencies while opening up new possibilities for our customers' portfolios."

The study advances the technology being developed from our ongoing Joint Industry Project (JIP) with Equinor, ABS, NZTC and The Research Council of Norway. The JIP project, awarded in 2021, will enable larger volume storage capabilities for all relevant fluid types in a subsea environment. The project is on track for completion in 2023 and includes submerging and testing two 200 cubic meter Subsea Storage Units (SSUs), as well as material compatibility and service life assessments.

NOV continues to build on its 160-year history of pioneering solutions to empower the global energy industry, making oil and gas operations more efficient and environmentally sustainable both today and into the energy transition.

To learn more about NOV’s subsea capabilities, visit nov.com/subsea.