Aker Solutions and ABB are joining forces to help the oil industry cut costs and improve efficiency in subsea oil and gas production, Aker Solutions said April 27.
This is the latest cooperation for Aker Solutions with other companies to help cut costs for oil firms. The firm is already working with Italy's Saipem on selected subsea projects and with Baker Hughes on early-phase studies.
The latest cooperation is the outcome of several years of joint work and will target opportunities globally, building on the companies' presence in major oil and gas markets, Aker Solutions said. The venture will be based in Oslo.
“Initial focus areas will include developing better subsea compression systems at lower costs and in less time,” Aker Solutions said in a statement, without specifying further.
Aker Solutions added that the cooperation would enhance how production equipment on the sea floor is powered and controlled by applications onshore or platforms, lowering costs and enabling economically viable production at fields far offshore from existing infrastructure.
Recommended Reading
Exxon Versus Chevron: The Fight for Hess’ 30% Guyana Interest
2024-03-04 - Chevron's plan to buy Hess Corp. and assume a 30% foothold in Guyana has been complicated by Exxon Mobil and CNOOC's claims that they have the right of first refusal for the interest.
Pitts: Heavyweight Battle Brewing Between US Supermajors in South America
2024-04-09 - Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.
Exxon Mobil Guyana Awards Two Contracts for its Whiptail Project
2024-04-16 - Exxon Mobil Guyana awarded Strohm and TechnipFMC with contracts for its Whiptail Project located offshore in Guyana’s Stabroek Block.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
2024-04-15 - Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
2024-04-12 - Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.