LNG

TechnipFMC, the company that has put on hold its de-merger into two separate entities for subsea and LNG projects because of Covid-19 and the oil slump, has launched with services firm Halliburton Company a new technology product for subsea wells.

TechnipFMC and Halliburton introduced their trade-marked Odassea system, which they described as the first distributed acoustic sensing solution for subsea wells.

“The technology platform enables operators to execute intervention-less seismic imaging and reservoir diagnostics to reduce total cost of ownership while improving reservoir knowledge,” they explained.

“The Odassea service integrates hardware and digital systems to strengthen digital capabilities in subsea reservoir monitoring and production optimization,” their statement added.

Halliburton provides the fiber optic sensing technology, completions and analysis for reservoir diagnostics while TechnipFMC provides the optical connectivity from the topside to the completions.

“Through the collaboration, operators can accelerate full field subsea fiber optic sensing, design and execution,” they stated.

TechnipFMC has two main offices in both Houston and Paris and said in March 2020 it was delaying plans to separate into two companies because of volatile market conditions created by the coronavirus outbreak.

The company had first announced the proposal in August 2019 and planning was well advanced when the pandemic and oil price slump impacted markets in mid-March.

TechnipFMC then said on March 16, 2020 that the global pandemic, a sharp drop in oil prices and heightened volatility in global financial markets had “created a market environment that is not currently conducive to the company’s separation” plans.

On the latest joint venture, TechnipFMC and Halliburton said they were delivering solutions with the technology to multiple subsea projects at all stages from conceptual design to execution and installation.

“This project enables an enhanced level of reservoir understanding for our customers and expands our unique integrated subsea solution,” said Christina Johansen, Vice President of TechnipFMC Subsea Product Manufacturing.

”We are proving that we can leverage the competencies and know-how to drive the change our industry needs for a higher level of sustainability,” she stated.

With the de-merger on hold TechnipFMC has still overhauled its divisions with Onshore-Offshore having been renamed Technip Energies, in-line with the new scope of the business.

The company said in its most recent earnings that despite the challenges and a softening of near-term LNG markets, the long-term fundamentals for natural gas, and LNG in particular, remained strong.

The two other TechnpFMC divisions are Subsea and Surface Technologies.