Golar, Schlumberger in FLNG pact

Golar LNG has signed a Memorandum of Understanding with Schlumberger, the world’s largest oil services provider, to co-operate on the global development of greenfield, brownfield and stranded gas reserves. 

Under the memorandum, Golar and Schlumberger have agreed to jointly market gas monetization solutions to owners, investors and governments.

Golar says it will contribute the Floating LNG assets and technology while Schlumberger, via its special project management division, will provide upstream development knowledge, resources and capital.

“The intention of this integrated offer is to gain access to a wide range of uneconomic gas reserves by delivering low-cost LNG production solutions,” the company explained.

According to Golar, the intention of this integrated offer is to gain access to a wide range of uneconomic gas reserves by delivering low-cost LNG production solutions.

The main aim of the venture is to accelerate the time it takes to bring proven gas reserves into production, Golar added.

Both parties have initiated their activities and have already made progress expecting to announce the first project within the next two months.

Earlier today, Offshore Energy reported that Schlumberger slashed 10.000 jobs in the fourth quarter of 2015.

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