Petrofac, Repsol Sinopec Resources UK and TechnipFMC have formed an industry alliance to maximize oil and gas recovery from the UK Continental Shelf (UKCS).
The three companies will offer integrated solutions to oil and gas field owners near Repsol Sinopec’s North Sea infrastructure centers.
Petrofac will provide services associated with front-end engineering and operations support, TechnipFMC will deploy its iFEED front-end engineering and design solution and integrated subsea business model, while Repsol Sinopec will provide access to its facilities.
Nick Shorten, managing director of Petrofac’s Engineering and Production Services, West, commented, “With more than three billion barrels locked up in marginal reservoirs across the UKCS, small reservoirs represent a huge opportunity.
Industry-wide collaborations such as this will drive the standardization needed to reduce the time and cost of tie-back developments.Petrofac is delighted to combine the asset knowledge gained as Repsol Sinopec’s operations and maintenance partner with our engineering and project management expertise in support of this exciting collaboration.”
José Luis Muñoz, CEO of Repsol Sinopec, said, “As an industry we must get better at recognizing the benefits of utilizing existing infrastructure in the North Sea to maximize the economic recovery of the basin, minimize carbon emissions and transition to a lower carbon economy.
This industry collaboration brings together three highly respected and experienced companies with the resources, drive and ambition to support the continued success of the sector for many years to come.”
Jonathan Landes, president of TechnipFMC’s subsea division, added: “We are delighted to contribute to maximizing oil and gas recovery on the UK Continental Shelf.
Leveraging our integrated subsea business models, iFEED® and iEPCI™, we are ideally positioned to support and optimize future development opportunities from initial concept to first production and beyond, minimizing the carbon footprint. With a shared commitment to excellence in Health, Safety, Environmental and Quality standards, we look forward to working with Repsol Sinopec to deliver a culture of efficiency, standardization and sharing best practice by embracing this unique and important alliance in the UK.”