PETRONAS Research will support the development and testing programme of the subsea multiphase pump
Petronas Research, a subsidiary of a Malaysian oil and gas company Petronas, has collaborated with FASTsubsea to develop and test low-cost, topsides-less subsea multiphase pump.
FASTsubsea, is a joint venture between a Norwegian engineering company, Aker Solutions and FSubsea announced in Aril last year.
It was created to help operators boost oil recovery from offshore fields.
The joint venture aims to increase oil recovery in a faster, simpler and more environmentally friendly manner by combining Aker Solutions’ multiphase hydraulic technology and FSubsea’s Hydromag technology.
FASTsubsea to bring the product to the market in 2022
Under the joint industry project agreement signed by both the companies, PETRONAS Research will support the development and testing programme, while FASTsubsea would bring the product to the market in 2022.
Aker Solutions chief technology officer John Macleod said: “Getting this participation from a large operator such as PETRONAS is a significant achievement, not least given current industry conditions.”
The company said that the PETRONAS Research’s participation comes in addition to a NOK11m ($1.2m) commitment from Norwegian Research Council and enables engineering activities to commence immediately.
FASTsubsea managing director Alexander Fuglesang said that “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 percent lower capex investment than conventional subsea pumping systems, which is key in this market environment.”
Furthermore, Aker Solutions has also informed that the project is still open for two further operators to join as JIP partners.