Transocean Ltd. (NYSE: RIG) announced yesterday that it has successfully deployed the world’s first hybrid energy storage system aboard a floating drilling unit. The system is now operational on the Transocean Spitsbergen, engaged in drilling operations at the Snorre field in Norway.
Transocean’s patented1 hybrid power technology, developed in partnership with Aspin Kemp and Associates, reduces fuel consumption and increases a dynamically positioned rig’s station-keeping reliability by capturing energy generated during normal rig operations that would otherwise be wasted and storing it in batteries. This energy is then used to power the rig’s thrusters. This important operational and safety enhancement targets a 14% reduction in fuel use during normal operations, leading to a significant reduction in NOx and CO2 emissions.
Transocean’s investment is funded in part through fuel-saving incentives in its contract with Equinor and by the Norwegian NOx Fund.
“This first of its kind hybrid power upgrade will further enhance the reliability of our operations, while simultaneously reducing fuel consumption, operating costs and our environmental footprint,” said Jeremy Thigpen, President and CEO. “We are pleased and proud to work alongside Equinor to jointly identify and implement more efficient and sustainable technology to deliver high-value wells to the industry.”
*1 Including Patent Nos. U.S. 8,373,949, U.S. 9,444,252, U.S. 10,389,113, and others outside the U.S.