The Research & Development Corporation of Newfoundland and Labrador (RDC) and Statoil Canada Ltd. are making a collaborative investment in a Kvaerner-led research and development project for subsea separation and storage facilities. The objective of the project is to provide a method and a system to secure subsea oil separation and storage in waters where weather and ice conditions make traditional surface storage facilities unsuitable.

The project has been awarded after Kvaerner last year submitted a proposal as part of Statoil's initiative "Arctic R&D Step Up"; and RDC's ArcticTECH program; a private sector-led research and development (R&D) initiative in Newfoundland and Labrador to address global technological gaps in arctic and harsh environment oil and gas development. Kvaerner will apply its expertise gained through decades of delivering international oil and gas offshore projects in deep waters, sub-Arctic and Arctic environments.

Tags: Kvaerner