Transborders Energy Pty Ltd (Transborders, the Company) is pleased to announce it has signed a Joint Study Agreement with Add Energy to work together in conjunction with a major Asian LNG buyer on the development of the Company’s Generic Floating LNG (FLNG) Solution.
The Joint Study will allow Transborders to enhance the technical and commercial robustness of its ground breaking low-cost Generic FLNG Solution for monetising stranded gas resources.
Specifically, the agreement provides for the parties to work together to enhance the technical and commercial definition of the Generic FLNG Solution and consists of
Completing technical Pre-Front End Engineering and Design (Pre-FEED) for the development well scope of the Generic FLNG Solution
Completing negotiation of key terms of major agreements for underpinning the reserve booking as well as facilitating project sanction (FID).
The involvement of Add Energy in developing Transborders’ Generic FLNG Solution provides significant credibility and predictability of cost and schedule for the Company’s Generic FLNG Solution.
It is anticipated that the Joint Study will be completed by early 2019 and provide a sufficiently mature product to be deployed on stranded gas resource opportunities.
Transborders Managing Director, Mr Daein Cha, stated:
“We are very pleased to sign this Joint Study Agreement as another key milestone for the business. The ongoing support from Add Energy is fundamental to the development of our Generic FLNG Solution”.
Add Energy Vice President, Eduardo Robaina, stated:
“We are excited to enter into this agreement, as we see great potential in the low-cost concept and its ability to unlock uneconomic smaller natural gas resources. Many challenges remain in our industry. Therefore, we must bring innovating thinking for capturing market upside.”
For more information, please contact:
Transborders Energy on +61 (0)8 6145 1100 or firstname.lastname@example.org
Add Energy on +61 (8) 9322 1180 or email@example.com
About Transborders Energy (Transborders)
Transborders generates step changes in industry value creation by deploying a predetermined, low-cost Generic Floating LNG (FLNG) Solution to accelerate monetisation of a range of discovered but stranded gas resources.
Transborders’ Generic FLNG Solution delivers a ~1.2 million tons per annum FLNG vessel with a package of streamlined processes and commercial agreements, as well the facilitation of regulatory approvals that underpin the conversion of discovered but stranded gas resources to commercially viable reserves and subsequently project sanction (Final Investment Decision).
Transborders is working with its partners Add Energy and TechnipFMC, its technical advisor MODEC and a major Asian LNG Buyer to progress the development of the project.
Please visit transbordersenergy.com for more information.
About Add Energy
Add Energy is an international consultancy provider for the energy industry, combining specialised engineering and proprietary software solutions, a global team of experts deliver a complete suite of optimised consultancy services related to drilling and wells, EPC, operations and maintenance, and safety and risk management for oil & gas operations.
Please visit https://addenergy.no/ for more information.