Aker Solutions and Baker Hughes have received the necessary regulatory approvals for the Subsea Production Alliance announced in April 2014.

Earlier this year, Aker Solutions and Baker Hughes agreed to form an alliance to develop technology for production solutions designed to boost output, increase recovery rates and reduce costs for subsea fields.

The alliance combines Aker Solutions' strengths in subsea production and processing systems with Baker Hughes' expertise in well completions and artificial-lift technology to deliver reliable, integrated in-well and subsea production solutions that will help mitigate risk, accelerate output and extend the life of subsea fields.

In addition, the alliance team will focus on advancing the industry's well-intervention capabilities to further optimize efficiency and reduce risks in subsea developments.

Tags: Aker Solutions, Baker Hughes Incorporated