KUALA LUMPUR (Aug 11): FASTsubsea, a joint venture (JV) between FSubsea and Aker Solutions, and Petroliam Nasional Bhd (Petronas) subsidiary Petronas Research Sdn Bhd have signed a joint industry project contract to develop and test a low-cost, topside-less subsea multiphase pump.
According to the agreement, Petronas Research will support the development and testing programme, while FASTsubsea will bring the product to the market in 2022.
Aker Solutions chief technology officer John Macleod said in a statement that getting the participation of a large operator such as Petronas is a significant achievement, not least given the current industry conditions.
Meanwhile, Alexander Fuglesang, the managing director of FASTsubsea, said the game-changing FASTsubsea technology allows operators to more rapidly extract additional hydrocarbons from existing offshore wells and installed infrastructure.
End users are drawn to the technology as increased recovery now can be done in a much more sustainable way, and at up to 50% lower capital expenditure (Capex) investment than conventional subsea pumping systems, which are key in this market environment, he said.
The participation of Petronas Research comes in addition to the RM5.1 million commitment from the Research Council of Norway, and allows engineering activities to start immediately.
The project is still open for two further operators to join as joint industry project partners, which would provide opportunities to influence and gain early access to the groundbreaking technology, said the statement.