LUXEMBOURG: Subsea 7 S.A. announced that the Subsea Integration Alliance has signed a memorandum of understanding (MoU) aimed at forming a framework agreement with bp for integrated subsea developments.

Under the framework agreement, Subsea Integration Alliance would work with bp from concept selection, through the full field life cycle, to deliver enhanced subsea project performance, based on new ways of working and an innovative commercial model.

Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea7 and OneSubsea, the subsea technologies, production, and processing systems business of SLB, bringing together field development planning, project delivery, and total life cycle solutions under an extensive technology and services portfolio.

According to a press release, A new team would be formed to oversee and manage activity across the programme with a focus on safety, quality and subsea project performance.

Olivier Blaringhem, CEO of Subsea Integration Alliance, said: “This agreement will mark a step change in how our highly collaborative teams work together to achieve shared objectives for mutual value. Together with bp, we will deliver lower-carbon energy to the world through enhanced long-term subsea performance.”

Ewan Drummond, bp’s SVP Projects, said: “The members of Subsea Integration Alliance have been a key supplier of bp for decades, and by combining our resources and knowledge, we can bring significant benefits to our customers and our stakeholders.

Together we can safely deliver projects with improved project schedules, reducing our total cost of ownership and harnessing synergies through a collaborative one-team mindset. We look forward to getting to work.”