PRZOOM - /newswire/ -
Perth, Western Australia, Australia, 2016/04/15 - GE Oil & Gas and SapuraKencana Well Services signed a Memorandum of Understanding announcing an Asia-Pacific wide agreement to deliver cost effective light well intervention services - SapuraKencana.com / GE.com. NYSE: GE
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.
“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 & Offshore at GE Oil & Gas.
‘’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.
The MoU signifies the formalisation of this exclusive business relationship, which is already in operation with an initial focus on the Australian waters province.
“We are very excited to be working with GE Oil & Gas on light well intervention projects in this key growth region where we both have a strong history and presence. Both parties are committed to a long-term relationship where we collaborate with operators in region to fully understand their challenges and provide appropriate enabling intervention solutions,” said Vivek Arora, Senior Vice President of Engineering & Construction of SapuraKencana Petroleum.
About GE Oil & Gas
GE Oil & Gas is inventing the next industrial era in the oil and gas sector. In our labs and factories, and in the field, we constantly push the boundaries of technology to solve today’s toughest operational & commercial challenges. We have the skills, knowledge and technical expertise to bring together the physical and digital worlds to fuel the future.
SapuraKencana Petroleum Berhad (“SapuraKencana” or “Group”) (sapurakencana.com) is a leading global integrated oil and gas services and solutions provider operating across the entire upstream value chain. As a fully-fledged upstream player, the Group’s spectrum of capabilities cover the exploration, development, production, rejuvenation, as well as decommissioning and abandonment stages of the value chain.
With a highly skilled and technically capable multinational workforce comprising over 13,000 people, strategic world-class assets, and strong project management capabilities, the Group today has a global presence in over 20 countries.
Rajan Moses - Sapura Group
T: +601 2209 6326 - E: rajan.moses[.]sapurakencana.com.
Elina Baseri - Corporate Communications SapuraKencana Petroleum Berhad
T: +603 6209 5654 / F: +603 6209 5733 - E: elina.baseri[.]sapurakencana.com.
Erlyna Erwyn - Corporate Communications SapuraKencana Petroleum Berhad
T: +603 6209 7664 / F: +603 6209 5733 - E: erlyna.erwyn[.]sapurakencana.com.
Rachel Kelly - Hill + Knowlton Strategies
P: +44(0)20 7413 3008 - E: Rachel.kelly[.]hkstrategies.com.