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February 14, 2019

MFDevCo signs agreement with Siemens to develop marginal gas fields

Nu-Oil and Gas’ subsidiary Marginal Field Development Company (MFDevCo) has entered a collaboration agreement with Siemens’ Dresser-Rand business to develop marginal gas fields.

Nu-Oil and Gas’ subsidiary Marginal Field Development Company (MFDevCo) has entered a collaboration agreement with Siemens’ Dresser-Rand business to develop marginal gas fields.

MFDevCo is establishing strategic collaborations with companies to deliver opportunities it is pursuing as part of its gas-to-wire (GTW) initiative for developing the fields.

GTW is part of the company’s overall strategy to increase the resources’ recovery and value within fields that are currently considered stranded or marginal.

Under the agreement terms, Siemens will provide information and support to secure projects in return for a first option to supply equipment and services.

“By applying the right technologies to the efficient development of these fields, we believe that the untapped potential of these assets will be realised.”

Siemens Oil and Gas ERA region head Rob Barnes said: “We are delighted to support the MFDevCo team which has a real insight into the viability of the marginal fields in the UK.

“By applying the right technologies to the efficient development of these fields, we believe that the untapped potential of these assets will be realised.”

Siemens’ established systems form a critical component in the delivery and operation of MFDevCo’s gas to wire facilities.

Siemens is initially working with a focus on UK projects but will also investigate other global projects pursued by MFDevCo worldwide.

The initial term of the agreement is for a two-year period.

MFDevCo managing director Alison Pegram said: “We are very pleased to be working with Siemens in our latest initiative to maximise the economic recovery of resources currently considered stranded.”

Siemens’ Dresser-Rand business provides and maintains power generation equipment in the offshore industry.

Prior to its agreement with Siemens, MFDevCo signed a collaboration agreement last month with Marnavi Offshore, including its subsidiary Next Geosolutions, for the initiative.

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