FMC Technologies has signed an agreement with Anadarko, BP, ConocoPhillips and Shell, to develop the next generation of subsea production equipment.
FMC Technologies has signed an agreement with Anadarko Petroleum Corporation, BP, ConocoPhillips and Shell, which establishes a joint industry program for the purpose of developing a new generation of standardised subsea production equipment and systems.
The new products and systems will be designed to meet the challenges of producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350°F at the mudline.
The joint program will serve to improve overall deepwater development through the standardisation of materials, processes, and interfaces, as well as the enhancement of reliability and operability.
Commenting on the venture, John Gremp, CEO of FMC Technologies, said: "This agreement is a clear illustration of how leading companies with a common interest can come together to overcome the technological and economic challenges facing our deepwater industry.
"By working together collaboratively, we will continue to achieve technological innovations that will enable us to safely develop some of the world's most promising fields and take a large step toward providing new oil and natural gas resources to consumers and superior returns to stakeholders."
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/exploration/21072014/fmc-technologies-leads-subsea-equipment-venture-1094/