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Saipem and Aker Solutions have agreed to cooperate on targeted subsea oil and gas development projects worldwide.
The companies will – through a joint work group – identify opportunities where they can create value for customers by combining Saipem's assets and expertise in engineering, procurement, construction, and installation of subsea infrastructures with Aker Solutions' capabilities in subsea products and technologies.
The companies will engage with clients from the initial concept and design phase to promote total system engineering, providing the best solutions for construction, operations, and maintenance. The collaboration will develop and manage all interfaces between subsea production systems and subsea umbilical, riser, and flowline systems as well as provide services over the lifetime of a field.
ARC anticipates seeing more joint ventures in the coming months as companies with complementary solutions and business models seek to find ways to the lower cost per barrel of oil for IOCs, NOCs, and independent E&P companies.