CVX Chevron Corporation

By Dominic Chopping

Aker Solutions ASA (AKSO.OS) said Tuesday that it has been awarded a master contract to support the delivery of a subsea compression system for the Chevron Australia-operated Jansz-Io field offshore Australia.

The oil-and-gas industry service provider said its gas compression system will boost recovery of gas more cost-effectively

"Compression will help maintain plateau gas production rates as reservoir pressure drops over time," the company said. "While such compressors have typically been installed on platforms over sea level, placing them on the seabed and near the wellheads improves recovery rates and reduces capital and operating costs."

The Jansz-Io field is located around 200 kilometers offshore the northwest coast of Western Australia at approximately 1,350 meters below the surface. The Jansz-Io field is a part of the Chevron Australia-operated Gorgon Project, one of the world's largest natural gas developments.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics

(END) Dow Jones Newswires

March 12, 2019 06:07 ET (10:07 GMT)

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