Siemens to support MFDevCo in development of marginal gas fields
Published by Aimee Knight,
Gas to wire is part of MFDevCo’s overall strategy to maximise the recovery and value of resources within fields currently considered stranded or marginal. 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 is a world-leading digital pioneer focusing on electrification and automation. They supply technical expertise and equipment to various industries worldwide and their tried and tested systems are a critical component in the delivery and operation of MFDevCo’s gas to wire facilities. In particular, Siemens’ Dresser-Rand business has huge experience in the provision and maintenance of power generation equipment in the offshore industry, as well as expertise on renewable energy systems, offshore energy generation and access to the grid. Siemens is working with MFDevCo initially with a focus on UK projects but is keen to also investigate other projects that MFDevCo is pursuing worldwide.
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.
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.
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.”
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/12022019/siemens-to-support-mfdevco-in-development-of-marginal-gas-fields/
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