After signing a duty holder deal with Aker Solutions in January, Marginal Field Development Company (“MFDevCo”) has now entered into a collaboration agreement with another important industry name, Siemens’ Dresser-Rand business.
MFDevCo (formerly ABT Oil and Gas Ltd) describes itself as a company focusing on “maximizing recovery from the vast, undeveloped hydrocarbon resources contained within marginal fields worldwide, utilising appropriate re-deployable solutions to transform these undervalued assets.”
“Siemens becomes the second company, following Marnavi Offshore, to join MFDevCo as it establishes strategic collaborations with companies to deliver opportunities it is pursuing as part of its gas to wire initiative for the cost-effective development of marginal gas fields,” MFDevCo said.
Gas to wire is part of MFDevCo’s overall strategy to maximize the recovery and value of resources within fields currently considered stranded or marginal, the company said, adding that Siemens brings key capabilities and experience to this initiative, as well as the market position required to assist MFDevCo in capitalising on its gas to wire opportunities.
Siemens’ tried and tested systems are a critical component in the delivery and operation of MFDevCo’s gas to wire facilities, MFdevCo said. Siemens is working with MFDevCo initially with a focus on UK projects.
Under the terms of the collaboration agreement, Siemens will provide information and support to MFDevCo to secure gas to wire projects identified in return for an exclusive first option (right of first refusal) to provide certain equipment and services to those MFDevCo projects, on terms acceptable to both parties.
“This commitment by Siemens to project evaluation and design will be critical as MFDevCo finalises its assessment of the technical and economic feasibility of selected projects and provides the independent verification required to demonstrate deliverability to both partners and investors,” MFDevCo said.
“The initial term of the agreement is two years but both parties are viewing this as the basis for a long-term working relationship with benefits that will increase as working practices are cemented and efficiencies increased going forward,” the company added.
Alison Pegram , Managing Director of MFDevCo, commented, “We are very pleased to be working with Siemens in our latest initiative to maximise the economic recovery of resources currently considered stranded. I am excited about the opportunities that gas to wire presents and encouraged that a company like Siemens shares our belief in both the potential and our plans.”
Rob Barnes , Head of Siemens Oil & Gas ERA Region, said, “We are delighted to support the MFDevCo team which has a real insight into the viability of the marginal fields in the UK. By applying the right technologies to the efficient development of these fields we believe that the untapped potential of these assets will be realised.”