PERTH, Australia – Wood Group is seeking support from technology vendors for a joint industry project (JIP) with the goals of reducing subsea equipment failures offshore Australia and providing a recommended practice for the subsea industry.
The Subsea Equipment Australian Reliability (SEAR) JIP is supported by six operators and led by Wood Group Kenny (WGK).
Bob MacDonald, CEO of WGK, pointed out that five fields offshore Australia experienced more than 100 equipment failures over a six-year period. The cost of the intervention campaigns was around AUD150 million ($106 million) - reducing failures is critical in the current low oil price environment, he added.
“There are a number of areas where improved collaboration can realize tangible benefits for oil and gas operations. We are now asking vendors to come forward with technology solutions to help address the specific challenges…
“Of particular interest are novel coating technologies and materials which will improve the ease of equipment change out and intervention campaigns.”
The initiative provides the opportunity for vendors to test the performance of technologies in situ over several years.
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