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June 20, 2019

Petrofac and MFDevCo partner to recover stranded gas resources

Oilfield services provider Petrofac has partnered with UK-based Marginal Field Development Company (MFDevCo) to tap stranded gas resources for electrical power generation on offshore platforms.

Oilfield services provider Petrofac has partnered with UK-based Marginal Field Development Company (MFDevCo) to tap stranded gas resources for electrical power generation on offshore platforms.

MFDevCo is a 50/50 joint venture between Nu Oil and Gas and risk management firm RMRI.

Under the agreement, which has an initial term of two years, MFDevCo and Petrofac will collaborate in gas-to-wire opportunities aimed at recovering stranded gas resources. The companies will engineer, deliver and operate gas to wire facilities for the redevelopment and recovery of marginal gas fields.

Petrofac will provide engineering support, and input to feasibility studies and opportunity screening. MFDevCo will secure projects suited to the proposed gas-to-wire approach, which includes the use of technology supplied by Siemens. The approach uses gas to generate electrical power on an offshore platform. Turbines installed on the platform convert the gas into electricity.

Electricity will then be exported to shore in a cheaper and efficient way compared to conventional methods in order to eliminate the expenditure, loss of value and dependence on pipeline networks.

The deal also requires Petrofac to deliver engineering and asset operations services on all gas-to-wire projects identified by MFDevCo. It is subject to agreeing terms on a case by case basis.

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Petrofac managing director for engineering and production services business in the Western Hemisphere Nick Shorten said: “At a time when industry is so firmly focused on extending the life of the UK Continental Shelf, we’re delighted to be working with MFDevCo to offer new and existing clients a solution to get more from their gas reserves.

“By blending our capabilities and expertise, we believe we can provide cost-effective development solutions to unlock the full potential of marginal gas fields within the basin.”

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