EXPRO AND FTAI OCEAN LLC FORM EXCLUSIVE WELL INTERVENTION VESSEL ALLIANCE
International oilfield service company Expro Group (“Expro”) has formed an exclusive alliance with global vessel provider FTAI Ocean LLC (“FTAI Ocean”), a subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), for the supply of the DP3 M/V Pride well intervention vessel to provide full light well intervention (“LWI”) services to the subsea oil and gas sector.
The exclusive three-year agreement allows both companies, which are globally recognised as safe providers of high-quality subsea well access and well intervention solutions, to expand their capabilities and resources to deliver a fully integrated intervention package to the industry.
The new alliance creates a full service offering for the riserless and riser-based well intervention and P&A markets, providing all marine, ROV, well intervention, wireline, e-line, coilhose, subsea well access, hydraulic intervention, well planning, execution and offshore well management by a single supplier using one contracting entity.
FTAI Ocean is a leading marine services provider to the international offshore energy industries. Its expertise includes well intervention, subsea, umbilicals, risers and flowlines (“SURF”), offshore construction, inspection, repair and maintenance (“IRM”), remotely operated vehicles (“ROVs”) and survey & positioning services.
Expro, as a premier well flow optimisation service provider, already maintains a leading position in the subsea landing string and well intervention markets, enhanced by its Riserless Well Intervention (“RWI”) and Intervention Riser System (“IRS”) equipment supply.
Graham Cheyne, Expro’s Vice President of Well Access and Subsea, commented:
“This partnership is a significant step forward for both companies. It will strengthen our position in the subsea well access and P&A markets combining our efforts to provide a bespoke project-specific complete subsea intervention package to meet our customers’ exact requirements.
“The new alliance and technology offering were paramount in Expro’s recent five-year contract award for the supply of light well intervention services for the Chevron-operated Gorgon facility, offshore Australia.
“We have introduced the first fully integrated alliance package to the market. This not only enhances our LWI offering but represents Expro’s strong and continued commitment to safety through reduced risks, lower operational costs, and greater efficiencies for our customers.”
Both services and technologies will be deployed under the alliance, and will be supported by the introduction of FTAI Ocean’s innovative well intervention smart tower system, which will expand the alliance’s LWI vessel services with the provision of both riser and riserless equipment and services.
Expro and FTAI Ocean will offer the new integrated smart tower system, which has been designed, tested, and classed to DNV standards. The system, operational in water depths up to 1,500 meters in riser mode and 2,500m in riser-less mode, will be installed on the flagship DP3 M/V Pride Offshore Construction Vessel.
Jon Attenburrow, Managing Director of FTAI Ocean commented:
"We are very pleased to be working with Expro, a world leader in well flow technology, with a global footprint and strong track record in subsea well intervention. We look forward to collaborating with Expro to offer clients the highest calibre of subsea intervention services on a global basis.”