Aquaterra Energy, a leader in global offshore engineering solutions, has secured the company’s largest riser analysis contract to date, a five-year deal on April 13 with a major Middle Eastern operator to provide green and brownfield riser analysis.
Combined with other recent project wins in the Middle East, Aquaterra Energy will now deliver an estimated £1 million ($US1.37 million) of riser analysis work over the five-year period.
Acting as a primary riser analysis supplier, Aquaterra Energy will manage and deliver multiple scopes of long-term work using its in-house analysis teams. Located in Abu Dhabi and Qatar, the contracts incorporate a wide range of recurring brownfield riser analysis projects, with future greenfield opportunities. The brownfield platform modification projects include slot recovery, slot addition and assisting development of inspection program of existing conductors.
“The Middle East is embarking on its next stage as an oil and gas producing region,” Andrew McDowell, operations director at Aquaterra Energy, said. “Operators are now continuing to invest in new projects but also finding themselves with a glut of legacy assets coming to end-of-life from earlier generations of investment. To safely and efficiently maximize output, our expert riser analysts are perfectly placed to support operators with both green and brownfield projects. With a long-term contract in place, I see this as the start of a major period of growth for us in the region.”
Recommended Reading
Liberty Energy Warns of ‘Softer’ E&P Activity to Finish 2024
2024-07-18 - Service company Liberty Energy Inc. upped its EBITDA 12% quarter over quarter but sees signs of slowing drilling activity and completions in the second half of the year.
Franklin Mountain Co-founder Paul Foster Steps Down as ERCOT Board Chair
2024-06-19 - Energy executive Paul Foster, who co-founded Permian E&P Franklin Mountain Energy in 2018, is stepping down as board chairman of the Electric Reliability Council of Texas (ERCOT).
BPX’s Koontz: The Rise of a Shale Man
2024-07-02 - CEO Kyle Koontz takes the reins of BPX Energy’s rapid onshore growth amid big changes at BP.
Upstream, Midstream Dividends Declared in the Week of July 8, 2024
2024-07-11 - Here is a selection of upstream and midstream dividends declared in the week of July 8.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.