Petroleum Africa
Find us on: 
Thursday, February 14, 2019
Nu-Oil and Gas, further to the announcement on January 25, announced that Marginal Field Development Co. (MFDevCO), the company’s 50%-owned joint venture, has entered into a collaboration agreement with Siemens’ Dresser-Rand business.
Siemens becomes the second company, following Marnavi Offshore, to join MFDevCo’s gas to wire initiative, which forms a part of MFDevCo’s overall strategy to maximize the recovery and value of resources within fields currently considered stranded or marginal. Siemens brings key capabilities and experience to this initiative, as well as the market position required to assist MFDevCo in capitalizing on its gas to wire opportunities.
Siemens supplies technical expertise and equipment to various industries worldwide, and its tried and tested systems are a critical component in the delivery and operation of MFDevCo’s gas to wire facilities. Siemens has extensive experience in the provision and maintenance of power generation equipment in the offshore industry, as well as expertise on renewable energy systems, offshore energy generation, and access to the grid. Siemens is working with MFDevCo with an initial focus on UK projects but is also keen to investigate other projects that MFDevCo is pursuing worldwide.
Under the terms of the collaboration agreement, Siemens will provide information and support to MFDevCo to secure identified gas to wire projects in return for an exclusive first option (right of first refusal) to provide certain equipment and services to those MFDevCo projects on terms acceptable to both parties. This commitment by Siemens to project evaluation and design will be critical as MFDevCo finalizes its assessment of the technical and economic feasibility of selected projects and provides the independent verification required to demonstrate deliverability to both partners and investors.
The initial term of the agreement is two years; however, both parties are viewing this as the basis for a long-term working relationship.
" alt="Sintana to Expand Asset Base in Namibia with Acquisition">
" alt="Luanda Gives Afentra Nod for Azule Acquisition">
" alt="TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets">
" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">
" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">
" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">
" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">
" alt="Sintana Completes Well Testing at Mopane 1-X in Namibia">
