Saipem wants to clean up its offshore operations. Credit: Credit: Sad Agus/Shutterstock.com.

Italian oil company Saipem and British nuclear company Newcleo will work together to try and establish how nuclear power can help make offshore drilling activities more environmentally friendly.

The two companies recently signed a collaboration agreement to identify how Newcleo’s small modular lead-cooled fast reactor (SM-LFR) technology could be used to power and heat Saipem’s offshore projects.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Under the agreement, a feasibility study on the development of floating nuclear prototypes will also be carried out, with the aim of connecting the floating units to the electricity grid on land or to other users.

Alessandro Puliti, CEO, Saipem, said: “The production of zero-emission energy through floating offshore plants equipped with new generation compact reactors could represent a new frontier in the energy transition.”

According to Newcleo, the SM-LFR technology is one of the most useful in the field of small nuclear fission reactors, using passive safety systems based on natural marine forces to enable greater efficiency, when compared with other types of conventional fission reactors.

See Also:

Stefano Buono, CEO, Newcleo, said: “Our next generation reactor technology will not only reduce the environmental impact of offshore oil and gas operations” [but also help design] “offshore power plants that can provide decarbonised electricity onshore, anywhere in the world.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Currently there is only one offshore nuclear power plant in the world, based in the Chukotka region of northeast Russia. Two KLT-40S 35MW reactors constitute the plant which supplies power to the local town of Pevek.