Aker Solutions, Det norske oljeselskap and Subsea 7 formed a partnership to find cost-effective solutions for developing Det norske’s Norwegian subsea portfolio, according to a Sept. 13 press release.
The companies combined expertise in front-end engineering, E&P, brownfield modifications and subsea systems for the partnership, which will enable them to work as one integrated team.
Senior management members from each company will handle the overall management of the partnership. The project management team will be led by a manager from Det norske.
The companies’ agreement to form this partnership comes after Det norske announced a four-year framework agreement with Aker Solutions to provide subsea production systems and services for Aker’s oil and gas developments in Norway and with Subsea for subsea umbilicals, risers and flowlines (SURF) in June.
The scope of these framework contracts has a total potential value of about NOK 2.8 billion, of which about NOK 800 million is Aker Solutions' share and NOK 2 billion is Subsea 7's. These values may change depending on how much work the operator calls for under the contracts, and Aker Solutions will book individual orders under the contract as they come in, according to the Sep. 13 press release.
Previously, field developments were typically managed on a project-by-project basis that curtailed the reuse of technology and solutions.
Recommended Reading
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
2024-04-25 - The final phase of Chevron’s project will produce about 260,000 bbl/d.
Rhino Taps Halliburton for Namibia Well Work
2024-04-24 - Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.