Bandibuli Energy Co., Ltd., a subsidiary of Norwegian state-owned broad energy company Equinor, announced today that it has signed an academic-industrial cooperation agreement with the University of Ulsan (President Oh Yeon-cheon), Ulsan University Hospital (Director Jung Yung-ki), and GeoView Co., Ltd. (CEO Kim Hyun-do), a marine exploration specialist company.
The agreement, signed at the University of Ulsan’s Administrative Council Chamber, establishes cooperation in three key areas:
- Joint Research and Development Bandibuli Energy, University of Ulsan, GeoView)
- Medical Services Support (Bandibuli Energy, University of Ulsan, Ulsan University Hospital, GeoView)
- Talent Development (University of Ulsan, Bandibuli Energy)
The partnership aims to maximize collaboration outcomes by leveraging the University of Ulsan and Ulsan University Hospital’s infrastructure.
This agreement follows a previous arrangement made in August at Equinor’s Fornebu Office in Oslo, Norway, where Bandibuli Energy and the University of Ulsan signed a KRW 1 billion funding agreement for local industry development. The new partnership strengthens their existing commitment to advancing the Ulsan Bandibuli Floating Offshore Wind project.
GeoView, a subsea geology and geophysical survey specialist, will participate in the joint R&D initiatives. In collaboration with the University of Ulsan’s Naval Architecture and Ocean Engineering department, GeoView will conduct research on unmanned underwater drone maintenance programs for floating offshore wind facilities and develop optimized robotic operating systems. GeoView has also committed to establishing a KRW 180 million fund for local industry development.
In the medical services domain, Ulsan University Hospital will develop customized health screening programs and telemedicine systems for maintenance personnel working on the Bandibuli floating offshore wind project.
For talent development, Bandibuli Energy’s offshore wind experts will be appointed as faculty members through the Joint Appointment (JA) system, supporting research and development activities at the university.
Torgeir Nakken, Project Director of Bandibuli Energy, stated, “This is an excellent opportunity for growth alongside local universities, hospitals, and partners. We will build a world-class floating offshore wind farm in Ulsan, South Korea.”
President Oh Yeon-cheon of the University of Ulsan commented, “This agreement represents a new model of industry-academic cooperation, comprehensively supporting business activities by mobilizing the university’s research, medical technology, and human resource development capabilities.”
The Bandibuli floating offshore wind project, currently under development by Equinor, has a maximum power generation capacity of 750MW. Located 60-70km off the Ulsan coast in waters 150-300 meters deep, the project completed its environmental impact assessment in July and is now preparing for the wind power fixed-price contract bid.
