Three Energy Companies Pull Together to Cut Costs in Gas Fields in Southern North Sea

Three energy companies active in the UK Southern North Sea agreed to team up to cut costs.

‘Petrofac, Faroe Petroleum and Eni Hewett have established an innovative cost saving partnership to drive efficiencies and commercial synergies across their UK operations in the Southern North Sea’ reads a note released on Wednesday.  

The collaborative approach, defined innovative by the companies, should bring down costs for operations at the Hewett, Schooner and Ketch gas fields. 

“This arrangement is one such innovative measure, which entails the sharing of key services which will materially reduce offshore operating expenditure, and improve operational efficiency” Graham Stewart, Chief Executive of Faroe Petroleum, commented.