Wood Group calls for technology vendors to support joint project
Wood Group is seeking expressions of interest from technology vendors to support a joint industry project.
The Subsea Equipment Australian Reliability (SEAR) joint industry project is a partnership supported by six operators and led by Wood Group Kenny. The focus is on collaboration and knowledge sharing in order to improve subsea equipment design for Australia’s challenging offshore warm water environment and to avoid costly interventions.
Wood Group Kenny Chief Executive Officer Bob MacDonald said the project has already underlined how significant the issue of subsea failures is, with five fields in Australia having more than 100 failures over a six year operating period.
“The associated cost of the intervention campaigns only was around AU$150 million,” Mr MacDonald said.
“Reducing costly failures is even more important in the current low oil price environment.
“There are a number of areas where improved collaboration can realise tangible benefits for oil and gas operations.”
Of particular interest for the joint industry project are novel coating technologies and materials which will improve the ease of equipment change out and intervention campaigns.