Norway-headquartered Aker Solutions has agreed to provide duty holder services for UK firm Marginal Field Development Company (MFDevCo).
MFDevCo is targeting marginal field development projects globally, using normally unmanned installations or self installating fixed towers. It's built a consortium of companies to see through these developments, a number of which are in "advanced stages," says the firm.
Under the latest agreement, MFDevCo has granted Aker Solutions the right of first refusal to provide dutyholder services on all MFDevCo projects; in return, Aker Solutions will invest resources in assisting MFDevCo in the identification and initial assessment of potential projects.
This will help MFDevCo’s project due diligence and provide third party verification as MFDevCo finalises project finance strategies.
Aker Solutions will also provide operational input throughout the design and delivery stages of projects on which it will be dutyholder. Operations oversight services will be delivered on a deferred payment basis with costs recovered from production.
The initial term of the agreement is five years, with the intention of it becoming a long-term working relationship.
In April last year, a memorandum of understanding with Calm Oceans Pte. Ltd. (COPL), which would see see COPL will be MFDevCo’s first choice supplier of production facilities, to be provided on a bareboat charter basis.
COPL, which is based in Singapore, has designed a mono-column platform (MCP) and a relocatable pivoting storage and Offloading system, selfinstalling and relocatable facilities.
In January last year, MFDevCO entered a collaboration agreement with COSL Drilling Pan Pacific, also based in Singapore, and is part of China Oilfield Services Limited (COSL). The collaboration agreement would see MFDevCo work on a ‘one stop shop’ basis with CPDL, as a Marginal Field Delivery Consortium Partner, which would include "beneficial commercial terms" to expedite MFDevCo’s entry into projects and facilitate earlier development.
In 2016, Aibel agreed to take on the role of Partner EPC Contractor for MFDevCo’s marginal field initiative and future projects. Meanwhile, back in 2015, when MFDevCo was called ABT Oil & Gas, Arup had agreed a collaboration agreement with the firm.
AGR, Kongsberg Braemar ACM Shipbroking and Frames have also joined MFDevCO's consortium.