Petrofac, MFDevCo join forces to maximize recovery
ST HELIER - Petrofac has entered into a collaboration agreement with Marginal Field Development Company (MFDevCo) for the pursuit of opportunities in the recovery of stranded gas resources.
Under the agreement, the companies will work together to engineer, deliver and operate gas to wire facilities for the redevelopment and recovery of marginal gas fields, supporting UK clients in their pursuit to Maximize Economic Recovery.
Petrofac, through its Engineering and Production Services business, will provide engineering support, and input to feasibility studies and opportunity screening, working with MFDevCo to secure projects that will be developed and delivered using MFDevCo’s gas-to-wire approach, which includes the use of Siemens’ technology.
The approach maximizes the recovery of stranded gas resources by using gas to generate electrical power on an offshore platform. Turbines installed on the platform convert the gas into electricity that can then be exported to shore in a cheaper and more efficient way than conventional methods; eliminating the expenditure, loss of value and reliance on pipeline networks.
The agreement allows for Petrofac to provide engineering and asset operations services on all gas-to-wire projects identified by MFDevCo, subject to agreeing terms on a case by case basis. It has an initial term of two years but both parties are viewing this as the basis for a long-term collaboration with benefits that will increase as working practices are cemented and efficiencies increased going forward.