Neptune Energy has entered a global alliance agreement with TechnipFMC for delivering subsea projects on April 2.
The alliance agreement between Neptune and TechnipFMC has been signed for an initial five-year term with options for further extensions. The agreement covers the full project lifecycle from early concept work, through engineering, procurement, delivery of subsea production systems and installation of subsea equipment and infrastructure, and continues into life of field support.
The first developments to be executed under this contract model are the Duva and Gjøa P1 projects in The Norwegian sector of the North Sea. Both fields will be developed as fast-track subsea tiebacks to the Neptune operated Gjøa facilities. TechnipFMC has been awarded a contract covering the subsea equipment from the wellheads to the riser hang-off at Gjøa. This includes subsea templates, xmas trees, manifolds, production and gas lift pipelines, umbilicals, subsea structures and control systems) plus installation activities.
The engineering and fabrication works have commenced and the first template will be installed third-quarter 2019 on the Duva field. The majority of the installation scope will be in 2020 with first oil targeted for fourth-quarter 2020.
“The global alliance agreement establishes a long-term relationship, based on common goals, shared values and mutual trust, supported by a commercial model where collective positive performance is rewarded,” Mark Richardson, vice president of projects at Neptune Energy, said.
DUG Permian - Producer Panel: Admiral Permian Resources; Triple Crown Resources; Discovery Natural Resources (2019)
The Permian Basin’s original oil in place is world-class. These operators, Admiral Permian Resources, Triple Crown Resources and Discovery Natural Resources, describe the vast resource still remaining in their leasehold and how they’re capturing more and more of it.
Operators are facing increasing social risk and can inoculate themselves by understanding the three growing oppositional trends.
Leading Lower 48 multi-play operators are increasingly citing an emphasis on the Rockies—and, of course, the Permian—in their capex budgets and slide decks.