Oilfield services company NOV has launched a joint industry project (JIP) with Norwegian state-owned energy firm Equinor and Brazil’s oil & gas company Petrobras to work together on qualifying subsea chemical storage technology toward field deployment.

The JIP is progressing an up to 200m3 subsea storage unit, NOV’s Subsea Production Systems reported on social media.

According to the company, the unit is designed to reduce topside footprint and vessel operations, while supporting long tiebacks and all-electric field development concepts, as qualification progresses.

This comes a day after NOV announced it was making a $200 million investment to roughly double capacity at its subsea flexible pipe manufacturing facility in Brazil due to expected growing demand.

The investment in the manufacturing facility in Açu will be made over the next three years, with the additional capacity expected to be brought online in late 2029.

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