Siemens’ Dresser-Rand business has agreed to enter into a collaboration with Marginal Field Development (MFDevCo) to support the latter’s development of marginal gas fields.
MFDevCo is looking to collaborate with companies to support its objective to implement a gas to wire initiative to develop marginal gas fields in a cost-effective manner.
According to the company, gas to wire is part of its overall strategy to maximize the recovery and value of resources within fields that are currently regarded as stranded or marginal.
It said that Siemens will contribute key capabilities and experience to the initiative and also the market position needed to help it in capitalizing on its gas to wire opportunities.
Dresser-Rand was formed through the merger of the Siemens and Dresser-Rand compressor products and service businesses. It is involved in the supply of mission-critical, high-speed rotating equipment solutions to the global oil, gas, petrochemical, and process industries.
Siemens’ Dresser-Rand is now the second company to join MFDevCo’s gas to wire initiative after Marnavi Offshore.
The Siemens business and MFDevCo will together initially focus on UK projects with the partnership to be extended to other projects pursued by the latter across the world.
Siemens Oil & 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.”
As per the collaboration terms, Siemens will offer information and support to the offshore oil and gas specialist to secure gas to wire projects identified. These will be in exchange of an exclusive first option to deliver some equipment and services for the projects.
The initial term of the partnership is two years with the potential to be expanded in the long-term.
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.
“I am excited about the opportunities that gas to wire presents and encouraged that a company like Siemens shares our belief in both the potential and our plans.”