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
Following a two-year alliance, FMC Technologies and Accentus believe
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