OTC 2018: W&T, BHGE team up in the Gulf of Mexico
At OTC, W&T Offshore Inc. and Baker Hughes, a GE company announced a strategic partnership related to W&T’s joint exploration and development program in the Gulf of Mexico.
The project uses a commercial model that consolidates BHGE engineering, products, and services expertise to reduce total project costs and time to first production. The field development agreement will leverage BHGE’s portfolio to improve execution efficiency, reduce risk, and incentivize performance through shared objectives.
The partnership is part of W&T’s joint exploration and development program among a group of investors to drill up to 14 specified projects in the Gulf of Mexico over the next three years.
BHGE will provide drilling and evaluation, completions and well intervention, and pressure pumping services. It will also supply wellhead systems, subsea production systems which includes subsea trees, controls and associated subsea connection systems. Surface wellheads and production equipment, as well as the associated installation tooling and services will also be provided from the oilfield equipment product company.
“This partnership with BHGE is the type of collaborative arrangement that is enabling renewed activity in the Gulf of Mexico,” said Tracy Krohn, chairman and CEO of W&T. “By partnering closely with BHGE we are locking in service reliability and ensuring access to the broadest selection of equipment and services and advanced industry technology.”
Kevin Wetherington, president of BHGE North America, said: “W&T was looking for a partner to help drive down the total cost of development. BHGE’s unique and flexible offering helps to consolidate engineering, products, and services through one provider while leveraging the full technology and services leadership to meet their objectives.
“W&T has a long track record of success in the Gulf of Mexico and we expect this partnership to accelerate the continuation of that success.”
BHGE is exhibiting at booth #2827.