Petrofac, Repsol Sinopec Resources UK and TechnipFMC announce the formation of an innovative industry alliance which seeks to maximise the recovery of oil and gas from the UK Continental Shelf (UKCS).

The partnership will work together to offer the owners of oil and gas discoveries near Repsol Sinopec’s existing North Sea infrastructure hubs an integrated, technically robust and commercially flexible solution to meet their near to mid-term development objectives.

Under the terms of the partnership, Petrofac will provide all services associated with topsides engineering and operations support, whilst TechnipFMC will deploy its *iFEED® front-end engineering and design solution and its integrated subsea business model, **iEPCI™. Repsol Sinopec will provide access to its facilities under the industry-led infrastructure code of practice. Together, the group offers decades of subsea and topsides engineering, project management and operating expertise to create an all-encompassing offering, from the well head to export route.

Nick Shorten, Managing Director of Petrofac's Engineering and Production Services, West business said:
"With more than three billion barrels locked in marginal fields across the UKCS, small pools represent a big opportunity. Industry level collaborations such as this, will drive the standardisation required to reduce the time and cost of tie-back developments. Petrofac is thrilled to combine the asset knowledge gained as Repsol Sinopec’s operations and maintenance partner, with our engineering and project management expertise in support of this exciting collaboration."

Jose Luis Muñoz, CEO Repsol Sinopec said:
“As an industry we must get better at recognising the benefits of utilising existing North Sea infrastructure to maximise the economic recovery of the basin, minimise carbon emissions and transition to a lower carbon economy. This industry collaboration brings together three well respected, experienced companies that have the resources, drive and ambition to support the continued success of the industry for many years to come.”

Jonathan Landes, President Subsea, TechnipFMC, said:
“We are delighted to play a part in helping to maximise recovery of oil and gas from the UK Continental Shelf. Leveraging our integrated subsea business models, iFEED® and iEPCI™, we are ideally placed to support and optimize future development opportunities from early concept to first production and beyond while minimising the carbon footprint. With a shared commitment to excellence in Health, Safety, Environmental and Quality standards, we look forward to working with Repsol Sinopec to deliver a culture of efficiency, standardisation and sharing of best practice as we adopt this unique and important alliance in the UK.”

*iFEED® TechnipFMC’s iFEED® front-end engineering and design solution combines the scope of SPS and SURF to deliver a full field subsea architecture design.

** iEPCI™ integrated Engineering, Procurement, Construction and Installation.

About Petrofac

Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse client portfolio including many of the world’s leading integrated, independent and national oil and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).

Petrofac designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac’s range of services meets its clients’ needs across the full life cycle of oil and gas assets.

With around 11,500 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

About Repsol Sinopec

Repsol Sinopec Resources UK is an oil and gas exploration and production company headquartered in Aberdeen and operating exclusively in the UK North Sea.
It is a joint venture between Repsol SA and Addax Petroleum UK Limited, a wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group). It arose from the acquisition, in 2015, by Repsol SA, of the global assets of the former Talisman Energy Inc, including its 51% equity interest in the joint venture, previously called Talisman Sinopec Energy UK.
Repsol Sinopec Resources UK has interests in 52 fields, of which it operates 41, on the UK Continental Shelf, with 12 offshore installations and two onshore terminals.

About TechnipFMC

TechnipFMC (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.

Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.