LUXEMBOURG – Schlumberger and Subsea 7 have started talks on forming a joint venture that builds on their Subsea Integration Alliance, established in 2015.
Currently that alliance combinesOneSubsea’s subsurface, subsea production systems and subsea processing systems capability with Subsea 7’s subsea umbilical, riser and flowline systems (SURF) offering.
The proposed joint venture will place emphasis on strengthened front-end engineering, design and execution of integrated projects, creating a life of field package that will include autonomous subsea technology; digitally enabled remote surveillance and production monitoring; and inspection, maintenance and repair services.
In addition to contributing resources for early engagement and tendering, the two companies plan to assign their respective Life of Field businesses to the joint venture, which will be owned on a 50:50 basis.
Clients will remain free to purchase non-integrated products and services from any manufacturer and vendor, they stress.
Olivier Le Peuch, president, Cameron Group, Schlumberger, said: “Subsea Integration Alliance has already provided our customers with industry leading innovation and value.
“The proposed joint venture will give us the opportunity to capitalize on the synergies already established and significantly improve subsea economics over the lifetime of the field.”