Oilfield service firms Schlumberger and Subsea 7 have entered into talks to form a joint venture intended to build on the success of an earlier alliance.
The so-called subsea integration alliance, established in 2015, combined the subsurface expertise of OneSubsea with that of Subsea 7.
Onesubsea was formed in 2012 as a 60/40 joint venture between Cameron and Schlumberger.
The new joint venture will look to enhance customer efficiency while maximizing total production, a spokesman for the companies said.
It will do that by further strengthening the front end engineering, design and execution of integrated projects.
Furthermore, it will build on the expertise from both companies creating a unique “life of field” offering that includes “autonomous subsea technology, digitally enabled remote surveillance and production monitoring, and inspection, maintenance and repair services”.
The joint venture will be owned 50% by Subsea 7 and 50% by Schlumberger.
Jean Cahuzac, chief executive of Subsea 7, said: “This joint venture will build on the success of subsea integration alliance to provide our clients with the best solutions and services on an integrated basis.
“We are looking forward to strengthening our collaboration with Schlumberger and extending our range of innovative solutions and technologies to drive industry progress.”
Olivier Le Peuch, president, Cameron Group, Schlumberger, said: “Subsea integration alliance has already provided our customers with industry leading innovation and value.
“The proposed joint venture will give us the opportunity to capitalize on the synergies already established and significantly improve subsea economics over the lifetime of the field.”
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