National Oilwell Varco in Kristiansand is among eight companies that receives funding for R&D projects.

A total of MNOK 73 was granted in R&D funding from the Norwegian Government and The Research Council of Norway on Monday.

The eight selected projects are said to represent huge opportunities for green restructuring and increased competitiveness for the Norwegian business sector, according to a statement issued by the The Research Council of Norway.

The NOV project is titled Mooring Optimization for Large Floating Wind Turbines.

“Research and development is crucial for the recovery of the Norwegian business and industry sectors following the corona crisis and also for adjusting in a green direction. We will create new jobs, especially in those parts of the business community where we already have solid skills. This especially applies to a strong and technology-heavy energy sector,” says Tina Bru, Minister of Petroleum and Energy.

“An important restructuring of the Norwegian business sector is underway. Among other things, Norway has solid expertise in the petroleum industry, which is now used to, for example, build offshore wind power,” says Fridtjof Fossum Unander, Area Director at The Research Council of Norway.

The Research Council of Norway has two more cut-off dates for their program Innovation Projects in the Business Sector.