The Gulf of Mexico has seen several new developments being realized in recent months and even more planned for the near future. The region has become the go-to destination for the US gas and oil sector, and now, BP, one of the largest and most profitable energy companies in the world, has awarded the contract for subsea enhancement work for the Tiber project in the Gulf to a new joint venture created to specifically develop assets in the Gulf of Mexico. With the new year approaching fast, BP is aiming to increase its footprint in the region through several new subsea developments.
SLB awarded the contract for the Tiber project in the Gulf of Mexico
SLB, a global energy company that supports subsea developments, has been awarded the contract by BP to install its subsea boosting system in the greenfield development of the Tiber project. The contract was awarded to the new OneSubsea™ joint venture created by SLB to develop BP’s assets in the deepwater off the coast of the US.
BP awarded the EPC, or engineering, procurement, and construction, to the joint venture following the successful use of the subsea boosting system at the Tiber project’s sister development, the Kaskida project, also located in the Gulf of Mexico. Both projects are leaning on the joint venture’s supplier-led, standardized high-pressure subsea pump system solution.
“We look forward to helping bp realize even more value from their Paleogene developments. We are seeing more and more operators adopt subsea boosting strategies that free up topside space and reduce power requirements.” – Mads Hjelmeland, CEO at SLB OneSubsea
BP has been operating in the US Gulf region for many decades and is looking to take advantage of Subsea’s pioneering subsea boosting system to develop assets that can boost the company’s output and production in the region. The announcement of the EPC contract being awarded to Onesubsea comes following the positive results reported from using the same system for the Kaskida project, also owned by BP.
Optimizing oil and gas production through innovative solutions can reshape output levels in the Gulf of Mexico
Notably, the awarding of the contract to Onesubsea comes after the first real “test” of the subsea boosting system produced some promising results for the company at the Kaskida project. Onesubsea leveraged its innovative optimization solutions for the Kaskida project, which will modernize and optimize the oil and gas production from the project.
The SLB Subsea joint venture is backed by several large energy companies, both right here in the US and abroad, too. The backers of the new joint venture are SLB, Aker Solutions, and Subsea7, headquartered in Oslo and Houston, respectively, with around 10,000 employees worldwide. The development of oil and gas assets in the US has become the latest trend unfolding in the market, with the IPC pushing forward with the Blackrod oil project.
“We’re delighted to expand our relationship with bp into the subsea processing domain, especially with such a critical delivery to bp’s first Paleogene field development. Our subsea boosting system will accelerate and maximize the immense potential for this development.” – Mads Hjelmeland, CEO of SLB OneSubsea
New technologies are driving the upstream market into a great start to the new year
SLB has noted that its subsea technology has been selected by BP for its substantial benefits for increasing production through the required artificial lift that the Paleogene field development needs and demands. With new technology comes the added benefit of boosting the already beneficial relationship between BP and the new subsea joint venture. Several nations, including the US, are expected to see substantial increases in upstream oil and gas output as the new year approaches.
