Odfjell Oceanwind, together with our partner Source Galileo, will with our UtsiraVIND project participate in the competition for seabed lease for floating offshore wind on Utsira Nord west of Haugesund in Norway. The intention for the three seabed leases of 500MW each is to stimulate technology and innovation, with the aim of reducing cost of energy from floating offshore wind.

Dear colleague,

• Oil and gas fields can to a large extent be electrified without power from shore
• Significant emission reductions can be realised with impact already in 2024
• This can lay the foundation for a large export industry based on offshore floating wind for Norway

• The UK and Norway have set ambitious emission reduction targets for 2030
• Offshore floating wind has been identified as the key tool to de-carbonise the oil and gas industry in both countries
• Policymakers must enable the floating offshore wind industry to deliver on these targets

Odfjell Oceanwind has entered into a Memorandum of Understanding with the Norwegian exploration and production company OKEA and the utility company TrønderEnergi to jointly evaluate the potential of developing a floating offshore wind farm connected to the Draugen platform.

• The oil and gas industry in Norway has set an objective to reduce its emissions by 50% by 2030
• Halving the emissions from oil and gas installations means having to shift their power generation systems from fossil fuels to renewable energy
• Odfjell Oceanwind’s Mobile Offshore Wind Units (MOWUs) and the WindGrid™ hybrid system allows operators to reduce CO₂-emission by up to 70% compared to power generation from gas turbines only
• The WindGrid™ system is developed based on the learnings from the hybridisation and de-carbonisation of Odfjell Drilling’s rigs