Exceed wins work on Alpha Petroleum’s Cheviot field
- Business & Finance
Well management specialist Exceed has been awarded a contract by Alpha Petroleum Resources Limited for work on the Cheviot field development campaign.
The field, described by Alpha Petroleum as one of the largest undeveloped fields in the UK North Sea, is estimated to hold 55 mmbbls of oil and 20 mmboe of future gas production.
Alpha’s program includes the drilling and completion of a total of 18 subsea wells, and Exceed’s contract will begin with immediate effect.
The operational phase of the project is expected to begin in the second quarter of 2018, subject to securing the final investment decision (FID) in the fourth quarter of 2017.
Exceed said on Wednesday that the workscope would see the company provide drilling engineering and well construction operations management within blocks 2/10a, 2/15a, and 3/11b of the North Sea for approximately 1,000 days.
20 new jobs
Exceed’s managing director, Ian Mills, said: “By playing a significant role in the delivery of one of the largest field developments in the North Sea in recent times, Exceed is delighted to be creating 20 new jobs.
“This award is a clear illustration of the benefits our investment strategy has delivered, and we look forward to working with Alpha Petroleum and our fellow contractors to successfully deliver this key UKCS project.”
Alpha Petroleum’s COO, Graham Walters, added: “We conducted a careful evaluation of well management companies in order to select the right fit for Alpha and Cheviot. The award to Exceed will provide the additional operational strength and support the Alpha team requires as we prepare to commence operations next year.”
It is worth reminding that Alpha hired one of Awilco Drilling’s two semi-submersible drilling rigs, the WillPhoenix, to drill all 18 wells. The deal was announced on September 21 and is worth an estimated $126 million.
Offshore Energy Today Staff