SCHIEDAM, THE NETHERLANDS--(Marketwire - Oct 10, 2012) - SBM Offshore, the leader in the
supply of leased FPSOs, has signed a Commercial
Development Agreement with CompactGTL Ltd, the pioneer of modular gas to
solutions, to work exclusively together on offshore projects. The use of
technology for floating production systems has the potential to
reduce gas flaring, by transforming associated gas into synthetic crude oil
which can be blended in to the produced crude oil. The two companies have
working together since 2008 and this agreement opens the door for the
first, fully integrated, offshore modular GTL solution for the upstream
The companies will combine their strengths for the marketing and execution
projects involving associated gas challenges for oil fields offshore.
Mike Wyllie, Chief Technology Officer, SBM Offshore said:
"SBM Offshore and CompactGTL provide complimentary expertise, and by
this we have been able to develop an exciting new FPSO product which will
very attractive solution for associated gas disposal in ultra deepwater
Nicholas Gay, Chief Executive, CompactGTL said:
"CompactGTL is delighted that we have been able to cement our longstanding
relationship with SBM Offshore. It is a world class company and, combined
our expertise in delivering the world's first commercial scale modular gas
liquids solution for associated gas, will have significant impact on the
offshore oilfield appraisal and development sector."
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SBM Offshore Press Release:
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Source: SBM Offshore N.V. via Thomson Reuters ONE