JV to wage war on costs

PERTH-based Icon Engineering has provided more details about its recent agreement with Malaysian-based ENRA Group.
JV to wage war on costs JV to wage war on costs JV to wage war on costs JV to wage war on costs JV to wage war on costs

Haydn Black


The pair will target undeveloped Asian oil and gas fields using Icon's range of minimal facility, well head platforms and self-installing production facilities.
ENRA Icon will focus on innovative solutions that aim to significantly reduce the total costs of most shallow water field developments looking at small relocatable processing platforms and rig-installable platforms and annexe platforms.
Icon says its designs will offer lower costs by adopting standardisation, and significant reductions in offshore installation cost by utilising relocatable suction piled foundations, rig-install options and light weight facilities.
"The very challenging low oil price environment presents opportunities for major oil players in Malaysia like Petronas, Hess, Repsol, Murphy Oil, SK Energy … to re-think and re-calibrate their minds to look for unconventional solutions for conventional problems," ENRA CEO Mazlin Junid said.
"Our partnership with Icon Engineering is intended to bring forth to these players ‘out of the box' ideas which Icon has successfully proven in its 20 year track record. 
"We are excited about the prospects of changing mindsets to be nimble and effective in order to make oil and gas production profitable again."
Icon managing director David Field said the partnership would offer a range of proven facilities designs that would "significantly reduce the upfront capex and risk for Malaysian and Southeast Asian field developments".
"Partnering with ENRA provides balance sheet strength to allow leased, relocatable solutions. ENRA brings critical local content and relationships, ENRA's team has awesome reputations and track records," Field said. 
"ICON will add our 20-plus year experience and technical know-how in successfully executing projects in Malaysia and elsewhere."