Helix, OneSubsea and Schlumberger execute alliance agreement

Helix Energy Solutions Group, Inc., OneSubsea, a Cameron and Schlumberger company, and Schlumberger announced today the execution of the definitive agreements for the companies’ non-incorporated alliance, formed to develop technologies and deliver equipment and services to optimise the value chain of subsea well intervention systems.

The alliance combines the expertise and capabilities of the three companies to provide a unique offering, integrating marine support with well-access equipment and control technologies. The alliance is focused on increasing the operating envelope of today’s subsea intervention technology, which will offer clients an integrated approach to achieve simpler and more cost-effective intervention solutions. Primary objectives include the expansion of applications enabled by subsea well-access technology, specific solutions for deep and ultra-deepwater basins and higher well pressure environments, and the evolution of Helix’s vessels to provide well intervention and additional support services such as well commissioning, artificial lift support, and abandonment, which are traditionally performed using drilling rigs.

Helix is a leading subsea well intervention provider, with the largest fleet size of well intervention vessels, and an unequalled track record in cost-effective subsea well intervention. OneSubsea, a preeminent solution provider for subsea well control, with a global footprint of executed major projects, has significant experience in the manufacture and supply of subsea well intervention equipment and services. Schlumberger is the world's leading supplier of technology and services to the oilfield, including conveyance systems and in-well technologies for subsea applications.

Helix President and Chief Executive Officer, Owen Kratz said, “The future for subsea well intervention and the value creation it brings is still in the early stages of growth, and the potential for pioneering additional methods for value creation is significant. I believe that the challenges for creating the technology and delivering it efficiently to the well in a manner that is safe and protects the environment is best achieved by this collaboration of skill sets from OneSubsea, Schlumberger, and Helix. We are excited about the possibilities.”

Cameron Chairman and Chief Executive Officer, Jack Moore stated, “This alliance represents a real advance in subsea intervention. Bringing together OneSubsea, Helix and Schlumberger capabilities will deliver simpler, more cost-effective and more efficient intervention solutions, all through a single, collaborative approach to ensure our clients are benefitting from the technologically advanced solutions the alliance will be able to offer.”

Schlumberger CEO Paal Kibsgaard commented, “We are extremely pleased to complete the well intervention alliance with OneSubsea and Helix. We are now uniquely positioned to drive further integration of our leading technology portfolio, backed by improved reliability and greater efficiency, to create a step-change in performance throughout the E&P value chain.”


Adapted from press release by Joe Green

Published on 06/01/2015


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