Repsol, Petrofac, Technip Form UK E&P Alliance

UK engineering firm Petrofac, TechnipFMC and Spanish Repsol Sinopec have allied to maximise the recovery of oil and gas from the UK Continental Shelf (UKCS), they said February 15. Operators of discoveries near Repsol Sinopec’s existing North Sea infrastructure hubs will be offered "an integrated, technically robust and commercially flexible solution to meet their near to mid-term development objectives," they said in a statement.

Petrofac will provide all services associated with topsides engineering and operations support and TechnipFMC will deploy its subsea technology. Repsol Sinopec meanwhile will provide access to its facilities under the industry-led infrastructure code of practice. 

Petrofac said: "With more than 3bn barrels locked in marginal fields across the UKCS, small pools represent a big opportunity. Industry level collaborations such as this, will drive the standardisation required to reduce the time and cost of tie-back developments."

Repsol Sinopec said: “As an industry we must get better at recognising the benefits of utilising existing North Sea infrastructure to maximise the economic recovery of the basin, minimise carbon emissions and transition to a lower carbon economy."

TechnipFMC, said it look forward "to working with Repsol Sinopec to deliver a culture of efficiency, standardisation and sharing of best practice as we adopt this unique and important alliance in the UK.”