FMC Technologies, Accentus Form GTL Joint Venture

Thursday, May 08, 2003
FMC Technologies and Accentus announced the establishment of a joint venture company, GTL MicroSystems, for the commercial development of Gas-To-Liquids (GTL) technology. FMC Technologies has a majority ownership interest in GTL MicroSystems. "FMC Technologies' expertise in the design, manufacture and project management of complex offshore facilities and Accentus' world-leading scientists and success with intellectual property development make an excellent combination that can lead to commercial GTL success," said Joseph H. Netherland, Chairman, President and Chief Executive Officer of FMC Technologies. Following a two-year alliance, FMC Technologies and Accentus believe that they have achieved a breakthrough in the fundamentals and economics of GTL technology for the exploitation of the world's stranded and associated gas reserves. The majority of the world's natural gas exists in small, stranded reserves or as gas associated with oil production. These reserves are difficult to economically exploit using current GTL technology. However, GTL MicroSystems believes its technology will allow monetization of gas reserves as small as 10 million standard cubic feet per day (mmscfd), which is the equivalent of 1,000 barrels per day (bpd), at lower per-barrel capital costs than those of traditional, large-scale plants. Commercialization of this GTL technology targets oil and gas fields with 200 mmscfd (20,000 bpd equivalent) of gas production or less. GTL MicroSystems has conducted analytical, laboratory and proof-of-concept trials that have demonstrated the feasibility of manufacturing a compact, high-efficiency, "Process Intensified" (PI) GTL plant using microreactor technology. GTL MicroSystems' proprietary technology should enable PI GTL plants to be located in space-restricted areas, such as on offshore platforms, Floating Production, Storage and Offloading (FPSO) vessels, or mobile skids.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

Woodside to Pick up Moroccan Acreage

Woodside advises that it has entered into a contract for an exclusive Reconnaissance Licence (RL) with the Office National des Hydrocarbures et des Mines, the

Strategy Can Maximize UKCS potential

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1283 sec (8 req/sec)