SBM Offshore has signed a Commercial Development Agreement with CompactGTL Ltd to work exclusively together on offshore projects. The use of GTL technology for floating production systems has the potential to significantly reduce gas flaring, by transforming associated gas into synthetic crude oil which can be blended in to the produced crude oil.
The two companies have been working together since 2008 and this agreement opens the door for the world's first, fully integrated, offshore modular GTL solution for the upstream industry. The companies will combine their strengths for the marketing and execution of projects involving associated gas challenges for oil fields offshore.
