MFDevCo, Aker Solutions enter into duty holder arrangement
Aker Solutions has agreed to provide duty holder (installation operator) services for Marginal Field Development Co. projects.
MFDevCo aims to maximize recovery from undeveloped hydrocarbon resources in marginal fields worldwide, using various re-deployable facilities.
The company offers to manage the entire lifecycle of marginal field projects from opportunity screening, suitability assessment and financing through engineering to production and decommissioning.
However, the addition of duty holder capability is imperative in the final phases of project due diligence, the company says, and provides the link with the operational stage of projects.
Prior to project acquisition, it added, the duty holder must understand MFDevCo’s operating philosophy and exercize firm control of ‘through-life’ costs to maintain the project’s economics.
Under the agreement, Aker Solutions has the right of first refusal to provide duty holder services on all MFDevCo projects. In return, it will invest resources in assisting MFDevCo in identification and initial assessment of potential projects.
In addition, it will provide operational input throughout the design and delivery of projects for which it will be duty holder, to ensure that facilities can be operated safely and effectively, in line with defined performance criteria and with through-life costs controlled.
Costs will be recovered from production.
Initially the agreement runs for five years, and could be extended to a long-term working relationship with the potential for increased efficiencies in service provision and working practices.