Add Energy has partnered with Transborders Energy (TBE), TechnipFMC and MODEC to establish a new concept in global gas field development.
The business model targets discovered gas resources of up to 0.5 trillion cubic metres of gas that have little value to their owners because they are in remote locations.
Key to the model is the deployment of an innovative small-scale floating liquefied natural gas (FLNG) vessel.
Accord Energy believes the low-cost concept will unlock hundreds of smaller natural gas plays.
Under the proposal, Add Energy will manage the drilling operations, maintenance, safety and risk management and is the exclusive partner to engineer, procure, drill and operate the wells.
TechnipFMC is the exclusive partner to engineer, procure, construct and install the subsea, umbilicals, risers and flowlines and the FLNG vessel.
MODEC is the technical adviser for the hull, LNG tank and turret mooring system of the FLNG vessel, together with the operations and maintenance of TBE’s FLNG vessel.
Offshore Australia has been identified as suitable for a pilot project, with a target resource to be confirmed next year.
Add Energy’s Vice President for Well Engineering, Eduardo Robaina, said acting now could avert a projected LNG supply shortage in mid-2020.
“Large-scale LNG projects typically involve up to five years of front-end engineering and design work and a further six years for EPC activities, but new projects need to progress now to capture this upside”, said Mr Robaina.
“The Transborders concept enables the development of previously uneconomic resources at a much faster pace than that of mega projects and will help feed the growing demand for energy, initially in Asia and elsewhere.”
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