Repsol Sinopec forms industry alliance to maximise recovery of North-sea reserves

Repsol Sinopec headquarters
Repsol Sinopec headquarters

ABERDEEN-headquartered Repsol Sinopec Resources UK Limited has joined forces with energy service providers TechnipFMC and Petrofac, creating an industry alliance which seeks to maximise the recovery of oil and gas from the UK Continental Shelf (UKCS).

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.

Under the terms of the partnership, TechnipFMC will deploy its “iFEED” front-end engineering and design service and its integrated subsea business model, iEPCI.

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.

José Luis Muñoz, Repsol Sinopec chief executive officer, said: “As an industry we must get better at recognising the benefits of utilising existing North Sea infrastructure to maximise the economic recovery of the basin, minimise 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, Petrofac’s Engineering and Production Services, West business managing director, 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 standardisation 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.”

 

 

Share

Share on facebook
Share on twitter
Share on linkedin

Related News