GE Oil & Gas and SapuraKencana Well Services today signed a Memorandum of Understanding (MoU) announcing an Asia-Pacific wide agreement to deliver cost effective light well intervention services, unlocking 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.
Nick Dunn, Global Leader, Subsea Services & Offshore at GE Oil & Gas said, 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.
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. 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,Mr Dunn said.