Petrofac, MFDevCo, join forces for stranded gas
The two companies will jointly engineer, deliver, and operate ‘gas to wire’ facilities for the redevelopment or production of gas from marginal fields, with a special focus on UK clients seeking to maximize recovery from resources in the North Sea area.
Petrofac’s Engineering and Production Services business will provide engineering support, input to feasibility studies, and opportunity screening.
MFDevCo’s gas-to-wire approach, which includes the use of Siemens’ technology, involves using gas to generate electrical power on an offshore platform.
Turbines installed on the platform convert the gas to electricity that can then be exported to shore cheaper and more efficiently than conventional methods, the company claims.
This approach is said to cut out the expenditure, loss of value and reliance on pipeline networks.
Petrofac will provide engineering and asset operations services on gas-to-wire projects MFDevCo identifies on a case-by-case basis.
Initially the accord runs for two years but both parties are looking at a longer-term collaboration with benefits more evident as following the implementation of working practices and efficiencies.
Alison Pegram, managing director of MFDevCo, said: “Maximizing the economic recovery of gas resources currently considered stranded should be central to the move towards a cleaner energy future and gas to wire offers a means to do this.
“Petrofac has extensive experience in the operation, maintenance and management of gas production facilities in the UK, so we’re very pleased to be collaborating with the company for our gas-to-wire initiative as our project negotiations intensify.
“We believe this provides the final element required to allow us to move forward and demonstrates that, as a group, we have the capability necessary to deliver and operate these projects.”