UK-based oil and gas firm Repsol Sinopec has teamed up with oilfield services companies TechnipFMC and Petrofac to create an alliance that seeks to maximize the recovery of oil and gas from the UK Continental Shelf (UKCS) using existing infrastructure and to cut the time and cost of tie-back developments.
The partnership will offer the owners of oil and gas discoveries near Repsol Sinopec’s existing North Sea infrastructure hubs an integrated, technically robust, and commercially flexible solution to meet their near to mid-term development objectives, Repsol Sinopec said.
Under the terms of the partnership, TechnipFMC will deploy its iFEED front-end engineering and design solution and its integrated subsea business model, iEPCI, while Petrofac will provide all topsides engineering and operations support.
Repsol Sinopec will provide access to its facilities under the industry-led infrastructure code of practice.
"Together, the group offers decades of subsea and topsides engineering, project management and operating expertise to create an all-encompassing offering, from the well head to export route," Repsol Sinopec said.
José Luis Muñoz, CEO Repsol Sinopec said: “As an industry, we must get better at recognizing the benefits of utilizing existing North Sea infrastructure to maximize the economic recovery of the basin, minimize carbon emissions and transition to a lower-carbon economy. This industry collaboration brings together three well respected, experienced companies that have the resources, drive and ambition to support the continued success of the industry for many years to come.”
Nick Shorten, Managing Director of Petrofac’s Engineering and Production Services, West business said: “With more than three billion barrels locked in marginal fields across the UKCS, small pools represent a big opportunity. Industry-level collaborations such as this will drive the standardization required to reduce the time and cost of tie-back developments. Petrofac is thrilled 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.”