Orcadian Energy plc’s agreement with a US company for an offshore energy-to-compute data platform, using the Earlham and Orwell gas prospects, has mutually terminated over the scope and timeline of the project.
Neither company had to pay any fees and Orcadian retains 100% of its rights in licence P2680 in the UK southern North Sea.
The project aims to supply power and infrastructure, separate from the UK grid, to minimise Scope 3 emissions.
Chief executive officer Steve Brown said: “This particular agreement has not progressed, but the work we did together has materially advanced our understanding of what an offshore compute development at Earlham would require.
“Our view of the opportunity is undiminished, and we continue to engage with a number of other potential partners.”