International oilfield service company Expro Group has formed an exclusive alliance with global vessel provider FTAI Ocean LLC, a subsidiary of Fortress Transportation and Infrastructure Investors LLC, on March 17 for the supply of the DP3 M/V Pride well intervention vessel to provide full light well intervention services to the subsea oil and gas sector.
The exclusive three-year agreement allows both companies, which are globally recognized as safe providers of high-quality subsea well access and well intervention solutions, to expand their capabilities and resources to deliver a fully integrated intervention package to the industry.
The new alliance creates a full service offering for the riserless and riser-based well intervention and P&A markets, providing all marine, ROV, well intervention, wireline, e-line, coilhose, subsea well access, hydraulic intervention, well planning, execution and offshore well management by a single supplier using one contracting entity.
FTAI Ocean is a leading marine services provider to the international offshore energy industries. Its expertise includes well intervention, subsea, umbilicals, risers and flowlines, offshore construction, inspection, repair and maintenance, ROVs and survey and positioning services.
Expro, as a premier well flow optimization service provider, already maintains a leading position in the subsea landing string and well intervention markets, enhanced by its riserless well intervention and intervention riser system equipment supply.
“This partnership is a significant step forward for both companies,” Graham Cheyne, Expro’s vice president of well access and subsea, said. “It will strengthen our position in the subsea well access and P&A markets combining our efforts to provide a bespoke project-specific complete subsea intervention package to meet our customers’ exact requirements.
Both services and technologies will be deployed under the alliance, and will be supported by the introduction of FTAI Ocean’s innovative well intervention smart tower system, which will expand the alliance’s LWI vessel services with the provision of both riser and riserless equipment and services.
Expro and FTAI Ocean will offer the new integrated smart tower system, which has been designed, tested, and classed to DNV standards. The system, operational in water depths up to 1,500 m in riser mode and 2,500 m in riser-less mode, will be installed on the flagship DP3 M/V Pride offshore construction vessel.
Recommended Reading
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-21 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.