Aker Solutions has signed an agreement with Baker Hughes to form an alliance to develop technology for production solutions for reducing subsea fields cost.

Under the terms of the non-incorporated alliance, Aker Solutions’ strengths in subsea production and processing systems will be combined with Baker Hughes’ expertise in well completions and artificial-lift technology to offer reliable, integrated in-well and subsea production solutions, the companies said.

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According to the companies, the solution will help mitigate risk, accelerate output and extend the life of subsea fields while boosting output and increasing recovery rates.

"According to the companies, the solution will help mitigate risk, accelerate output and extend the life of subsea fields while boosting output and increasing recovery rates."

Additionally, the team will focus on advancing the well-intervention capabilities aimed to further optimise efficiency and reduce risks in subsea developments.

Aker Solutions executive chairman Øyvind Eriksen said: "Subsea factory development is a key focus for Aker Solutions and the partnership with Baker Hughes will provide critical capabilities that will help us develop technologies to create a fully functioning subsea production system, which will improve recovery rates and lower costs for oil producers.

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Baker Hughes chairman and CEO Martin Craighead said: "By joining forces, Baker Hughes and Aker Solutions will identify and integrate the most effective combinations of in-well and subsea technologies, enabling greater production rates, efficiently and economically, from subsea fields."

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With the alliance core team to be co-located and based in Houston, Texas, US, Aker Solutions’ Svenn Ivar Fure and Baker Hughes’ Brage Johannessen will lead the alliance for their respective companies as general managers.

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