Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces that it has signed an agreement establishing a worldwide non-incorporated alliance with Houston-based OneSubsea®, a Cameron and Schlumberger company, to jointly design, develop and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF) and life-of-field services.
The alliance will bring together Subsea 7's experience and technology in seabed to surface engineering, construction and life-of-field services with OneSubsea's unique reservoir expertise and state-of-the-art subsea production and processing systems technologies. The alliance will combine both companies' resources to collaborate on selected projects, engaging early to improve field development planning from the reservoir to the production facility. By combining the complementary capabilities and market-leading technologies of OneSubsea and Subsea 7, the alliance will work collaboratively with clients to design, develop and deliver integrated SPS and SURF solutions which will enhance project delivery, improve the recovery, and optimize the cost and efficiency of deepwater developments for the life of the field.
Jean Cahuzac, Subsea 7 Chief Executive Officer, said: "This combination of subsurface, SPS, SURF and life-of-field expertise is unique in its breadth of integrated service offering and provides clients with the opportunity to significantly improve subsea field economics over the lifetime of the development. I am looking forward to developing further our relationship with OneSubsea as we will be able to capitalize on the synergies between our strong technology portfolios and develop joint technologies to improve our offering for our clients.
Mike Garding, OneSubsea Chief Executive Officer, said: "The technology and expertise from Subsea 7 perfectly complements OneSubsea's 'Pore to Process' business strategy to offer a holistic approach to subsea development solutions. Our established competencies in subsurface modeling and production systems engineering will be further strengthened by integrating the SURF expertise provided by Subsea 7. By integrating these key areas of expertise, we can reduce further risk and uncertainty to deliver the optimal solution for our clients to produce cost-effectively from subsea reservoirs."
