US-based oil and gas development and production company Promethean Energy and Norway’s Subsea 7 have signed a memorandum of understanding to collaborate on the further development of deepwater Gulf of Mexico oil and gas assets.
According to Aditya Singh, CEO of Promethean, the collaboration allows Promethean to execute on its strategy of integrating leading edge practices and technologies to unlock value across the development & production (D&P) lifecycle.
“The company is collaborating with industry leaders in key D&P strategic areas and Subsea 7 brings to Promethean a wealth of expertise in subsea developments,” Singh said.
“The opportunity to collaborate with Promethean is important to Subsea 7 as it affords us the ability to deliver considerable value at an early stage in field enhancements and extensions of deepwater assets and tie-back of step-out growth opportunities in the Gulf of Mexico, a province where the company has much experience,” commented Jeremy Woulds, director of Subsea 7.
