PETRONAS’ subsidiary PETRONAS Research has signed an agreement with FASTsubsea to participate in the development of a low-cost, topside-less subsea multiphase pump to increase oil recovery.
Under the terms of the agreement, PETRONAS Research will support the development and testing program of the subsea pump.
FASTsubsea will focus on introducing the product to the market in 2022.
According to Aker Solutions, the participation from PETRONAS Research enables the immediate start of engineering activities.
Aker Solutions chief technology officer John Macleod said: “Getting this participation from a large operator such as PETRONAS is a significant achievement, not least given current industry conditions.”
FASTsubsea is a joint venture between Aker Solutions and FSubsea that was formed to develop the world’s first topside-less subsea multiphase boosting system called FASTsubsea X.
The pump will be designed to increase oil recovery for brownfields, tie-backs and marginal or distributed fields.
Alexander Fuglesang, managing director of FASTsubsea said that the game-changing FASTsubsea technology enables operators to accelerate the extract of additional hydrocarbons from existing offshore wells and installed infrastructure.
The technology is also expected to reduce capital expenditure by up to 50% compared to conventional subsea pumping systems.
The project has received a NOK11m ($1.2m) commitment from the Research Council of Norway.
Two further operators are being invited to take part in the project as joint industry project partners to gain early access to the ground-breaking technology.
In April, a carbon capture and storage technology developed by Aker Solutions was cleared for deployment at the demonstration project in Norway.