SBM Offshore, the leader in the supply of leased FPSOs, has signed a Commercial Development Agreement with Compact GTL Ltd, the pioneer of modular gas to liquid solutions, to work exclusively together on offshore projects.
The use of GTL technology for floating prodution systems has the potential to significantly reduce gas flaring, by transforming associated gas into synthetic crude oil which can be blended in to the produced crude oil. The two companies have been working together since 2008 nd this agreement opens the door for the worl ’s first, fully integrated, offshore modular GTL solution for the upstream industry.
The companie s will combine their strengths for the marketing and execution of projects involving associated gas challenges for oil fields offshore.
Mike Wyllie, Chief Technology Officer, SBM Offshore said: “SBM Offshore and Compact GTL provide complimentary expetise, and by combining this we have been able to develop an exciting new FPSO product which will be a very attractive solution for associated gas disposal in ultra deepwater fields”
Nicholas Gay, Chief Executive, Compact GTL said: “Compact GTL is delighted that we have been able to cement or longstanding relationship with SBM Offshore. It is a world class company and, combined with our expertise in delivering the world’s first commercial scale modular gas to liquids solution for associated gas, will ha ve significant impact on the offshore oil field appraisal and development sector.”
[mappress] LNG World News Staff, October 10, 2012