OneSubsea and Chevron have signed an agreement to form a joint industry programme (JIP) that will address the technical challenges presented by high-pressure, high-temperature (HPHT) reservoir environments.

Called the 20Ksi Subsea System Development Programme, the new initiative is aimed at developing subsea systems technology for 20,000psi applications.

OneSubsea will conclude a portfolio of technology development projects and managing the evolution of the necessary technologies to lead the JIP.

"We can combine expertise to drive the development of economically viable and advanced technology solutions that the subsea industry requires."

This will help in meeting the high-pressure field development challenges of Chevron in addition to those of the wider subsea industry.

OneSubsea chief executive officer Mike Garding said: "OneSubsea uniquely integrates the technology experience and reservoir knowledge that is fundamental to developing reliable, robust and advanced technical solutions required for successfully producing hydrocarbons from challenging HPHT reservoirs.

"By collaborating with Chevron, a world-class operator, we can combine expertise to drive the development of economically viable and advanced technology solutions that the subsea industry requires."

Cameron and Schlumberger Company, OneSubsea offers solution for reservoir recovery for the subsea oil and gas industry, by the way of integration as well as optimisation of the entire production system over the field’s life.

The company offers subsea solutions for its customers by integrating the strengths of Cameron and Schlumberger.