Petrofac has been appointed well operator by Tullow Oil for the next phase of its Thames decommissioning project on April 2, following the award of a contract worth around $16 million.
As well operator, Petrofac will be responsible for the execution of plug and abandonment operations on three of Tullow Oil’s subsea wells in the Southern North Sea. This will include detailed planning, direct procurement and management of all sub-contracted services, including provision of a jackup rig.
The award follows the successful completion of plug and abandonment programs in 2016 and 2018, throughout which Petrofac decommissioned seven of Tullow Oil’s subsea and platform wells, delivering project savings of more than $6.5 million.
“At the end of the asset lifecycle, the focus on cost and schedule remains as important as ever. This award is testament to the approach we take to optimize operations through new decommissioning techniques and maximize collaboration across the supply chain in order to drive efficiency,” Alex Macdonald, managing director, well engineering, Petrofac Engineering and Production Services, said.
Petrofac became the first outsourced well operator to execute fully integrated well operator services in 2016. The company’s well operator capability evolved from its outsourced service operator model and its extensive track record in well project management, enabling Petrofac to provide a standalone or integrated approach to the management of wells, installation and pipeline operations.
Recommended Reading
Darbonne: What are We Supposed to do Without Hydrocarbons?
2024-11-21 - Oil and Gas Investor asked individuals who understand fossil fuels if any “end oil” agitator has ever explained what the world would do without hydrocarbons. No, they haven’t gotten an answer either.
NatGas Storage Drops Ahead of Predictions
2024-11-21 - U.S. Energy Information Administration's weekly report shows the first withdrawal of the fall, a week before the consensus forecast.
US NatGas Prices Jump 7% to 1-Yr High on Surprise Storage Draw, Colder Forecasts
2024-11-21 - The U.S. Energy Information Administration said utilities pulled 3 Bcf of gas from storage during the week ended Nov. 15.
Permian Trends Continue to Point to Crude Growth
2024-11-20 - Smaller, more creative M&A deals are becoming the standard in the Permian’s Midland and Delaware basins, an Enverus analyst says.
Long-Debated Alaskan NatGas Project Comes Into Focus
2024-11-20 - Pantheon Resources steps up with proposal to bring natural gas to the southern part of the state.