Aker Solutions and Baker Hughes have agreed to co-operate on early phase studies to help customers improve the overall economics and value of oil and gas field developments.
The alliance provides expertise from the entirety of field development
Aker Solutions' front end spectrum unit and Baker Hughes' reservoir development services group will provide customers with development concept studies which address the entire value chain, from reservoir understanding and well design to subsea and topsides facilities including flow assurance and risk management. Both companies have expertise from the full spectrum of field development and initial customer studies are already under way.
The agreement comes after Aker Solutions and Baker Hughes formed the Subsea Production Alliance to develop solutions that will boost output, increase recovery rates and reduce costs at subsea fields in 2014. The alliance uses Aker Solutions' capabilities in subsea production and processing and Baker Hughes' expertise in well completions and artificial-lift technology to deliver integrated inwell and subsea systems solutions. The importance of co-operating during the early phase of a project was recognised quickly in the alliance.
Aker Solutions' Front End Spectrum unit provides expertise in subsea and topsides systems, life-of-field production management and flow assurance. Baker Hughes' Reservoir Development Services group uses its subsurface expertise to improve reservoir understanding and determine efficient methods to capture a field's full potential.
Studies should increase success in finding solutions
"Our ability to maximise value is greatest when we can enter a project early at the appraisal and feasibility stages and evaluate the potential of a field's total development instead of parts of it," said Henning Østvig, Head of Front End Spectrum at Aker Solutions. "This greatly increases our success in finding solutions that improve the overall economics and value of a development by optimising capital expenditure and production."
"While we always want to find the best solutions for our customers, the current market environment gives us an added sense of urgency," said Scott Reeves, President of Reservoir Development Services at Baker Hughes. "No tool is more powerful than an early, integrated approach to field design. This helps ensure that all parts of a project are designed to work together throughout the life of the field."
Adapted from a press release by David Bizley