The Honourable Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation, today toured TechnipFMC, to view the results of a $750,000 project that is developing innovative tieback techniques to transform marginal oil fields into economical options for oil operators.
Approved in 2016, this innovative and cost-effective solution will give oil operators the ability to access oil and gas in harsh ocean environments.
Methods include developing minimal fixed platform for dry trees, and developing an optimized subsea system to eliminate excavated drill centres and trenching. These techniques will be investigated in the context of smaller oil fields located on the Grand Banks, with the goal of developing methods to economically access marginal oil fields. Marginal oil fields are discoveries that have not been in production due to the small size of the reserve or the lack of technological infrastructure in the vicinity to make the field profitable.
TechnipFMC is a global leader in oil and gas projects, technologies, systems and services with proprietary technologies and production systems, integrated expertise, and comprehensive solutions.
The Provincial Government is committed to supporting innovation and technology in the province. As part of The Way Forward vision, in the coming weeks the Provincial Government will join with the technology sector in hosting a Technology Summit including the release of an action plan to further support the industry.
Quotes
“This innovative technological solution by TechnipFMC will certainly help transform current marginal oil fields into economical operations. This technology will help maximize the use of our existing infrastructure and generate value for the province, local industries, and our communities. Together with the NL Innovation Council, government is driven by our commitment to foster innovation and build upon the Business Innovation Agenda. Today’s announcement is a clear indication on that.”
Honourable Christopher Mitchelmore
Minister of Tourism, Culture, Industry and Innovation
“Building global supply and service capabilities right here in Newfoundland and Labrador is critical to the continued growth and development of our oil and gas industry. Through investments in innovation we are positioning the industry to pursue new opportunities, lower the cost of offshore developments and maximize resource development opportunities. I commend TechnipFMC on their innovative work in this field.”
Honourable Siobhan Coady
Minister of Natural Resources
“This project is a great example of how the province can help drive innovation. It addresses a persistent problem faced by our local petroleum industry using the in-province expertise of a company with global reach. This creates the potential to add meaningful value for Newfoundland and Labrador’s’ economy through enhanced local production and the export of the expertise developed to a global industry.”
Mark Dobbin
Chair, NL Innovation Council
“The Grand Banks has considerable potential for the development of small reservoirs of oil and gas. It is essential that technology is developed to overcome the technical and commercial barriers for such marginal developments. We are optimistic that with the knowledge gained through this project, and our 20 years of operation in Newfoundland and Labrador, we will help remove some of these barriers to help create longer term opportunities.”
Jason Muise
General Manager, Subsea Canada, TechnipFMC
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Learn more
TechnipFMC – technipfmc.com
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Media contacts
Eric Humber
Tourism, Culture, Industry and Innovation
709-729-4819, 725-9655
erichumber@gov.nl.ca
Nancy Hollett
Natural Resources
709-729-5777, 685-3372
NancyHollett@gov.nl.ca
Tina Kruse
Regional Communications Manager, North America
+01 281 591 4293
+01 281 221 7221
tina.kruse@technipfmc.com