OneSubsea, Helix, Schlumberger to form subsea well intervention alliance

OneSubsea, Helix Energy Solutions Group, and Schlumberger have signed a letter of intent to form an alliance to develop subsea well intervention systems.

Aug 12th, 2014

Offshore staff

HOUSTON –OneSubsea, Helix Energy Solutions Group, and Schlumberger have signed a letter of intent to form an alliance to develop subsea well intervention systems.

When the final terms are agreed, the alliance will focus on expansion of applications enabled by subsea well access technology and specific solutions fordeep and ultra-deepwater and high-pressure operations.

Helix brings a fleet of intervention vessels, OneSubsea provides well control technology as well as manufacture and supply of subsea well intervention equipment and services, and Schlumberger brings conveyance systems and in-well technology for subsea applications.

“From well construction through production enhancement to decommissioning, this is an opportunity for our companies to work with our clients in realizing significant value creation through a fully integrated and collaborative team effort,” said Owen Kratz, chairman, president, and CEO of Helix.

“This unique alliance willdrive optimization in the complete subsea well intervention value chain,” said Jack Moore, Cameron chairman, president, and CEO. “Together, we will develop leading technology to reduce operational risk, increase efficiency, improve recovery, and lower the overall cost of subsea well intervention operations for our clients.”

OneSubsea is a Cameron and Schlumberger company.

“This alliance reinforces our commitment, along with our OneSubsea joint-venture company partner Cameron, to help our customers improve production and recovery from their subsea developments,” said Paal Kibsgaard, Schlumberger CEO. “We are determined to drive further integration of our leading technology portfolio, backed by improved reliability and greater efficiency, to create a step-change in performance throughout the E&P value chain.”

8/11/14

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