ABS and Hanwha Ocean will pool their collective resources to expedite development of the solutions chosen. Credit: ABS

The American Bureau of Shipping (ABS) and Hanwha Ocean have signed a broad cooperation agreement committing to exploring a range of offshore technologies and sustainability initiatives. 

The Offshore Technology Collaboration Agreement was signed at energy conference Gastech and will support work on projects such as green technology retrofits, and research into carbon capture, wind assistance, electrification, and energy efficiency. 

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Philippe Levy, president of offshore business for Hanwha Ocean, said: “As part of the same team, ABS and Hanwha Ocean have resources and expertise to accelerate innovation and embed our technology developments within execution and operations. 

“This agreement will structure our ambition to propose safe, sustainable, and affordable energy for opportunities ahead.” 

ABS and Hanwha Ocean will particularly focus on the commercialisation of the technologies they will be exploring, with the South Korean company highlighting an interest in working with its “strategic clients” developing offshore reservoirs with low break-evens and carbon intensity. 

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Alongside a focus on sustainability, technology involved in the collaboration agreement will cover a variety of themes including digitalisation, artificial intelligence, and operational technology cybersecurity. 

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Miguel Hernandez, ABS’ senior vice president of global offshore, said: “This agreement with Hanwha Ocean will allow both organizations to take advantage of our collective resources and extensive experience to accelerate the development of clean energy solutions, unique to offshore applications.” 

The agreement continues both companies’ interest in next-gen maritime solutions, with Hanwha Ocean also recently investing in ammonia-to-power business Amogy as it brings its ammonia cracking technology to market.