Syntroleum, PGS to form floating GTL venture

Syntroleum Corp., Tulsa, and Norwegian company Petroleum Geo-Services ASA have agreed to form a joint venture to develop, market, and operate mobile marine production facilities based on Syntroleum's proprietary gas-to-liquids technology.


By the OGJ Online Staff

HOUSTON, May 10 -- Syntroleum Corp., Tulsa, and Norwegian company Petroleum Geo-Services ASA have agreed to form a joint venture to develop, market, and operate mobile marine production facilities based on Syntroleum's proprietary gas-to-liquids technology.

The proposed joint venture -- to be based in Aberdeen -- will offer contract GTL services to convert otherwise stranded natural gas from offshore fields into marketable hydrocarbon products.

The Tulsa-based company, in association with UK-based AMEC PLC, has been conducting engineering and design work for the floating systems for a number of months.

"The mobility of floating facilities will permit their use at multiple locations, thereby providing access to fields that are otherwise too small to justify permanent GTL facilities," said a Syntroleum statement.

The company said those proposed GTL facilities will be useful for small associated gas fields, monetization of gas caps, short-term use as an early production system, and as a long-term solution for offshore gas in a range of water depths.

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