French oilfield services firm Technip announced Thursday that it is teaming up with the Netherlands' Heerema Marine Contractors to focus on the subsea ultra-deepwater market.
According to the two firms, ultra-deepwater projects are expected to be the fastest growing part of the subsea market over the next several years. For example, ultra-deepwater infield pipelines are forecast to grow at an annual rate of more than 15 percent between 2012 and 2017.
Technip and Heerema believe that such developments have significant challenges for their clients. They claim increasing size and complexity of ultra-deepwater projects require extensive project management skills, while technology investment is needed to optimize field design and provide solutions for high-pressure, high-temperature or highly-corrosive hydrocarbons. Meanwhile, deeper water and heavier pipes will require specialized pipe-laying vessels.
The five-year alliance will mean each company will make available to the other complementary assets for ultra-deepwater projects in all subsea markets, giving the both of them a worldwide commercial footprint and an international network of engineering centers.
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