HydraWell wins another plug & abandonment deal in UK
- Business & Finance
HydraWell has been awarded a frame agreement by the UK operation of an “undisclosed supermajor” to provide technology and services for all of the operator’s plug & abandonment (P&A) and well repair operations on the UK continental shelf.
This follows HydraWell’s recent three-year frame contract award to provide P&A technology and services for Centrica’s “A Fields” in the southern part of the North Sea.
Back to the latest contract, HydraWell explained in a statement on Wednesday that, in principle. this means that the operator has selected HydraWell’s HydraHemera second generation high pressure perf, wash & cement jetting system as its chosen technical solution for wells that will be plugged and abandoned or for re-establishing the integrity of wells that do not have sufficient barriers.
The technology can be applied in both single and multiple casings, the company said.
The frame agreement is valid for three years, with two additional one-year options. The operator also has a contract option to extend the use of HydraWell’s technology to all of its operated assets world-wide.
“Last year, the client in question utilized our technology on three wells. Afterwards they approached us about entering into a frame agreement. We cannot think of any better endorsement from a client. The fact that another supermajor gives us their seal of approval makes this agreement even more special,” says Mark Sørheim, CEO of HydraWell.
According to HydraWell, it has developed the patented PWC-technology (perforate, wash and cement) that plugs offshore wells in 2-3 days, compared to the traditional method of section milling which takes considerable longer time to complete.
“The essence of our technology is to enable operators to save huge amounts of rig time as well as to reduce their HSE risk and environmental footprint from not having to bring swarf cuttings topside,” says Sørheim.
HydraWell UK Ltd will manage the contract out of its office and workshop in Dyce, Aberdeen, UK. HydraWell’s headquarters are based in Stavanger, Norway.