GE Oil & Gas and SapuraKencana Well Services have agreed an Asia-Pacific deal to deliver light well intervention services, which they say will unlock previously uneconomic subsea intervention activity.
The strategic alliance will enable oil and gas operators to bring wells into production, deliver life-of-field intervention services, as well as to suspend and abandon these wells later in their life without the need for costly mobile drilling units.
“The generally prohibitive cost of performing interventions on subsea wells has meant that the volume of hydrocarbons extracted from offshore fields with subsea wells is typically far lower than offshore fields with platform wells,’’ said Nick Dunn, global leader, subsea services and offshore at GE.
‘’By combining regionally based assets with local infrastructure and support, this strategic alliance will bring a cost effective light well intervention solution to the market and create immediate value for the Asia Pacific operator community,” he said. “This alliance is an excellent example of the changing market trend where trusting relationships result in added value and cost savings for operators across the globe.”
The agreement signifies the formalization of this exclusive business relationship, which is already in operation with an initial focus on the Australian waters province.
“Both parties are committed to a long-term relationship where we collaborate with operators in the region to fully understand their challenges and provide appropriate enabling intervention solutions,” said Vivek Arora, senior vice president of engineering and construction of SapuraKencana Petroleum.