Golar LNG Limited, a world leader in operating LNG carriers, and Schlumberger, a global leader in technology for reservoir drilling, production and processing, announced the creation of OneLNG, a joint venture to rapidly develop low cost gas reserves to LNG on Monday.
The statement released by Schlumberger said that the combination of Schlumberger's reservoir knowledge, wellbore technologies and production management capabilities, with Golar’s low cost FLNG (Floating LNG) solutions will offer gas resource owners a faster and lower cost development thereby increasing the net present value of the resources.
Golar and Schlumberger have respectively 51/49 percent ownership of the joint venture.
OneLNG will be the exclusive vehicle for all projects that involve the conversion of natural gas to LNG and the parties are confident that it will conclude five projects within the next five years, the statement said.
“Our new venture with Schlumberger provides a powerful union of their oilfield services technology and production management business, and our low cost FLNG solution. It leverages Golar’s LNG expertise, and builds upon our industry-leading position as a midstream solutions provider,” Golar Vice Chairman, Tor Olav Troim said.
Golar LNG is one of the world’s largest independent owners and operators of LNG carriers. The company developed the world’s first Floating Storage and Regasification Unit (FSRU) project based on the conversion of existing LNG carriers.
By Ebru Sengul
Anadolu Agency
ebrusengul@aa.com.tr
