What Inocean does

Inocean AS is a privately held Norwegian naval architecture and marine engineering firm founded in 1996 in Oslo, specializing in the design of floating offshore structures for the oil and gas and offshore wind sectors. The company delivers a portfolio of proprietary hull designs spanning FPSOs (INO 320,000, INO 160,000, INO 7300, INO Harsh Environment FPSO), floating offshore wind substructures (INO15C, INO FOSS 400, INO 12MW), drillships (MPF 1000, INO 80, CAT I Arctic), FSRU/LNG solutions, and SURF equipment (MWA, HICAP and HIVEL suction anchors), backed by eight patents including the SWAY floating tower and the McEel AUV. Inocean operates as a wholly-owned subsidiary of Technip Energies since 2020, with engineering offices in Oslo, Szczecin, and Gothenburg, and a track record covering more than 25 FPSO projects (over 10% of the world's installed FPSOs) and 40+ offshore units including the world's most powerful HVDC offshore converter station (DolWin Beta at 916 MW).

The firm earns revenue through two streams: project-based engineering and design services covering concept, FEED, basic and detail engineering, fabrication supervision, marine operations support, and lifetime extension; and licensing of proprietary designs to shipyards and operators. Pricing is project-specific with no public disclosure, and go-to-market is sales-led via direct enterprise engagement with oil and gas majors (Equinor, Energean, BW Offshore, Yinson Production, Ocean Rig, Transocean, Pemex), FPSO lease operators, classification societies, and offshore wind developers, supported by participation in joint industry projects and industry events. Customers include ABB on HVDC platform work, Equinor on floating wind (Bandibuli, Tampen), and Semco Maritime and ISC Consulting on floating offshore substations, reflecting a horizontally segmented customer base concentrated in large energy, EPC, and FPSO lessor counterparties.

The company's competitive position rests on a deep domain specialization accumulated over 25+ years, a patent and proprietary design library, class approvals (e.g., DNV Basic Design Approval for INO 12MW and INO 80 Drillship), and integration with Technip Energies' iEPCI delivery model. Recent strategic emphasis has shifted from FPSO newbuilds toward floating offshore wind, carbon transport (INO LCO2 Carrier), and asset integrity and lifetime extension services for the existing installed base.

Name

Inocean

Legal name

Inocean AS

Website

https://inocean.no

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Inocean AS is a Norwegian naval architecture and marine engineering firm, founded in 1996 in Oslo, designing proprietary floating offshore structures including FPSOs, floating offshore wind substructures, FSRUs, drillships, and SURF equipment for oil and gas majors, FPSO lessors, and offshore wind developers worldwide. The firm operates as a wholly-owned subsidiary of Technip Energies.

Ownership category

akta.pro rank

Product category

Offshore Engineering Services

NAICS

Ship Building and Repairing (336611), Ship and Boat Building (3366), Ship and Boat Building (33661)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Safety, Risk & Compliance Engineering (SOLAS, Class Rules, HAZID/HAZOP, FMEA) (IMAJAGAJ)

akta.pro secondary industries

FPSO/FSO Hull Construction & Conversion (IMAJACAC), Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating) (EUAMACAE), Offshore Vessel Life Extension, Major Conversion & Rebuild (EPC/Integration) (IMAJACAJ)

Keywords

• Naval architecture services
• Floating offshore structures
• FPSO design engineering
• Offshore wind engineering
• Subsea engineering services

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Engineering and Design Services: Project-based engineering services covering concept design, FEED, basic and detail engineering, fabrication supervision, marine operations support, and lifetime extension services for offshore floating structures.
2. Design Licensing: Licensing of proprietary FPSO, MODU, and floating wind designs to shipyards and operators worldwide.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Inocean provides naval architectural and marine engineering services for floating offshore structures — including FPSOs, FSRUs, semi-submersibles, spars, drillships, and floating offshore wind turbines — covering concept and feasibility studies, FEED, detailed design, installation and marine operations engineering, and asset integrity and lifetime-extension work for operating units. The company also develops and licenses proprietary floater, anchoring, riser, and subsea designs (e.g., SWAY, HICAP, INO LNG Type B, McEel AUV, L-Riser, MWA) to operators, contractors, and yards.

Product overview

Inocean is an engineering and design consultancy offering a portfolio of patented and proprietary floating offshore structures and engineering services. The product portfolio includes multiple FPSO designs (INO 320,000, INO 160,000, INO 7300, INO Harsh Environment FPSO), floating offshore wind solutions (INO15C, INO FOSS 400, INO 12MW), drillship designs (MPF 1000, INO 80, CAT I Arctic Drillship), LNG/FSRU solutions, and SURF products (MWA, HICAP, HiVel suction anchors). These are complemented by a suite of engineering services covering concept through detail engineering, marine operations, and digital tool development. The company also holds patents for technologies including SWAY floating tower, McEel AUV, INO LNG Tank Type B, and L-Riser systems. Inocean operates as an affiliated company of Technip Energies.

Differentiator

Problem solved

Functional benefit

Products and services

• Concept and Feasibility Studies Early-phase engineering studies to screen and select floater concepts, hull forms, mooring, and riser configurations for offshore oil & gas, LNG, and floating wind projects. Targeted at FPSO contractors, offshore developers, and operators at the field-development stage.
• Floater & Offshore Design Development (FEED and Detailed Design) Front-end engineering design (FEED) and detailed design of FPSOs, semi-submersibles, spars, FSRUs, drillships, and floating offshore wind foundations, including hull, mooring, and riser engineering. Intended for shipyards, EPC contractors, operators, and developers.
• Installation & Marine Operations Engineering Engineering of offshore installation sequences, marine operations planning, vessel-based engineering support, and execution engineering for towing, mooring, and hook-up campaigns. Delivered to subsea installation contractors and operators executing offshore campaigns.
• Asset Integrity and Lifetime Extension Services Integrity management, life-extension engineering, and class-related re-certification support for operating FPSOs, semi-submersibles, and other floating units. Targeted at operators and FPSO charterers managing ageing offshore assets.
• Owners Engineering, Advisory & PMC Services Independent owners engineer, advisory, and project management consultancy (PMC) support for offshore development projects, provided to oil & gas operators, FPSO contractors, and offshore wind developers.
• Development of Digital Tools & Solutions In-house development of digital tools and engineering software solutions used to support Inocean's marine and offshore engineering delivery, including analysis and design automation.
• INO15C Floating Wind Design Semi-submersible floating wind turbine foundation concept designed for industrial-scale offshore wind farms; licensable to wind developers, EPC contractors, and yards.
• INO FOSS 400 Floating Wind Design Large-scale (~400 MW class) floating offshore wind foundation concept intended for serial fabrication and large North Sea and temperate offshore wind sites; available for licensing to developers and EPC contractors.
• INO 12MW Floating Wind Design Semi-submersible floating wind foundation reference design sized for 12 MW-class wind turbines; offered to wind developers and EPCs evaluating floating wind sites.
• INO 320,000 FPSO Reference Design Large-capacity (~320,000 barrels) FPSO reference design for deepwater and harsh-environment oil & gas developments; licensable to FPSO contractors, yards, and operators.
• INO 160,000 FPSO Reference Design Mid-capacity FPSO reference design (~160,000 barrels) targeted at deepwater oil & gas field developments; licensable to FPSO contractors, yards, and field operators.
• INO Harsh Environment FPSO Design FPSO hull and turret concept engineered for harsh-environment basins (e.g., North Sea, Norwegian Sea, Barents Sea); licensable to FPSO contractors and operators.
• FSRU (Floating Storage Regasification Unit) Designs Naval architectural designs for floating storage regasification units (FSRUs), covering hull form, mooring, and LNG containment integration; available to LNG operators, yards, and charterers.
• Power Barge Design Floating power barge design combining a barge-shaped hull with onboard power generation modules, for offshore power supply or near-shore power generation use; licensable to utilities and operators.
• INO LCO2 Carrier Design Floating LCO2 (liquefied CO2) carrier hull and containment concept designed for carbon capture and storage (CCS) shipping and offshore CO2 injection; licensable to CCS developers, shipping operators, and yards.
• MPF 1000 Drillship / Production Unit Design Multi-purpose harsh-environment drillship or production unit reference design intended for drilling contractors and operators working in harsh-environment basins.
• INO 80 Drillship Design Harsh-environment drillship reference design licensed to drilling contractors and operators for offshore exploration and development drilling.
• CAT I Arctic Drillship Design Arctic-class (CAT I) drillship design certified for year-round operation in Arctic waters; offered to drilling contractors and operators pursuing frontier-region exploration.
• INO 7300 Semi-Submersible Design INO 7300 semi-submersible reference design suitable for production or drilling service, for harsh-environment and deepwater use; available for licensing to operators and yards.
• Mid-Water Arch (MWA) Subsea Structure Proprietary compliant Mid-Water Arch (MWA) subsea structure concept used in offshore field developments to enable vertical access and compliant response; licensable to operators and subsea contractors.
• HICAP Suction Pile Anchor Heavy-capacity suction pile anchor design used as the mooring foundation for FPSOs and semi-submersibles in deepwater; licensed to operators, contractors, and anchor suppliers.
• HiVel Suction Pile Anchor Suction pile anchor design optimised for high vertical load capacity in deepwater mooring applications; licensed to operators, contractors, and anchor suppliers.
• McEel AUV (Autonomous Underwater Vehicle) Proprietary autonomous underwater vehicle (AUV) used for deepwater inspections, subsea surveys, and integrity assessments independent of a surface vessel; operated/leased to operators and survey contractors.
• SWAY Floating Tower Proprietary downwind, passive-yaw floating tower concept for offshore wind turbines, intended to reduce structural loads and cost of energy; licensed to offshore wind developers and EPC contractors.
• INO LNG Tank Type B Prismatic IMO Type B LNG containment system (INO LNG) for FPSOs and LNG carriers, offering higher utilisation than Type A spherical tanks; licensed to yards and operators.
• L-Riser (Lazy-Wave Riser System) Proprietary lazy-wave steel catenary riser (L-Riser) system for harsh-environment FPSO developments, enabling riser configuration in deepwater fields; licensed to operators and contractors.
• Blue Eagle FPSO Hull Design Floating, storage, and offloading (FPSO) hull reference design 'Blue Eagle' that supports the company's deepwater production reference design portfolio; offered for licensing to FPSO contractors and yards.

Quantifiable outcome

• Over 10% of world's FPSOs in operation involve Inocean designs
• +4 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

Five partnerships are on record, tiered core and major.

• Semco MaritimecoreStrategic or Co-development Partner · 1 January 2024Partnership between Inocean, Semco Maritime, and ISC Consulting to develop scalable floating offshore substation concepts. Combines Semco Maritime and ISC's offshore wind and bottom-fixed substation engineering experience with Inocean's naval architecture expertise in floating structures for wind turbines and oil & gas topsides.
• ISC Consulting EngineerscoreStrategic or Co-development Partner · 1 January 2024Partnership to develop scalable floating offshore substation concepts. Combines ISC's offshore wind engineering expertise with Inocean's naval architecture capabilities in floating structures.
• Technip EnergiescoreStrategic or Co-development PartnerTechnip Energies acquired 100% ownership of Inocean AS in 2020. Inocean operates as an affiliated company of Technip Energies, enabling access to global resources and integrated project delivery through iEPCI contracts.
• TechnipFMCcoreStrategic or Co-development PartnerJoint FEED execution with TechnipFMC for Equinor Tampen FWT project covering 11 floating wind turbine substructures including marine outfitting and mooring system.
• ABBmajorStrategic or Co-development PartnerInocean has been engaged in all phases from engineering to handover on multiple HVDC offshore converter station projects including BorWin1, DolWin1, and DolWin2, transmitting clean offshore wind energy from German North Sea.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• TechnipFMC: Global offshore EPC and subsea contractor that collaborates with Inocean on FEED (e.g., Equinor Tampen) but also competes as an integrated engineering provider in offshore wind and FPSO.
• Aker Solutions: Larger Norwegian offshore engineering house with FPSO, subsea, and offshore wind capabilities. Competes for engineering scope on the same projects but offers broader EPC delivery.
• Saipem: Italian offshore EPC contractor with FPSO, drilling, and offshore wind capabilities. Competes for floating wind FEED and FPSO hull engineering scopes.
• Wood Group: International energy engineering and consulting firm delivering offshore engineering, asset integrity, and lifetime extension services — overlapping with Inocean's services portfolio.
• Worley: Global engineering and project services firm with offshore oil & gas and offshore wind portfolios. Provides design and PMC services comparable to Inocean's scope.

Emerging players

• Stiesdal Offshore Technologies: Danish developer of floating wind substructures (TetraSpar). Comparable emerging player in the floating offshore wind space where Inocean is competing for early commercial reference projects.
• Principle Power: US-based floating offshore wind substructure designer (WindFloat). Closest emerging competitor in the floating wind segment where Inocean sells INO15C, FOSS 400, and INO 12MW.

Direct peers

• MODEC: Japanese FPSO specialist providing hull, mooring, and topside design with charter/lease services. Closest pure-play FPSO design peer to Inocean, particularly on harsh-environment units.
• BW Offshore: FPSO lease operator and repeat Inocean customer (Yuum Kak Naab, BW Pioneer, Blue Eagle, BW Athena). Comparable as FPSO designer/operator with shared project base.
• SBM Offshore: Dutch FPSO lease operator with its own in-house hull and topside design capability. Direct comparable in FPSO design, engineering, and lease operations across deepwater markets where Inocean is active.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/inocean

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Inocean