Norwegian energy giant Equinor is to work with Korea National Oil Corporation, Korea East-West Power Company and Ulsan City in South Korea to explore opportunities for floating offshore wind projects in the Asian country.
A memorandum of understanding has been signed with Ulsan City in South Korea and an amendment made to an earlier MoU with Korea National Oil Corporation to include Korea East-West Power Company.
Equinor said: “The parties will work together pulling on their respective experience and capabilities to assess the feasibility of floating offshore wind projects over the next two years.”
It added that Ulsan City is a major energy and industrial hub in South Korea, including large shipyards, and wants to use these competences and global supply chain to develop renewables projects.
Equinor signed an MoU with Korea National Oil Corporation in February to explore opportunities for floating offshore wind.