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HydraWell Signs Contract with Chevron for Plug and Abandonment Services

Source: www.gulfoilandgas.com 6/21/2018, Location: Europe

HydraWell has signed a contract with Chevron North Sea Limited for the provision of equipment and personnel for plug and abandonment (P&A) services on the UK continental shelf. The contract is valid for three years, with two additional one-year options (3+1+1).

HydraWell will provide support out of its office and operational hub in Aberdeen, UK.

HydraWell high pressure PWC® (Perforate, Wash and Cement) jetting system can plug and abandon, or complete annulus remediation work as required.

The key benefit of the PWC® jetting system is that it can install a rock-to-rock barrier, in line with UK regulatory requirements, in less than two days. In comparison, traditional methods such as section milling can often take 10-14 days.

“This technology can help significantly reduce the cost of plugging operations compared with traditional methods. The cost and increased benefits of using this innovative technology has seen a rise in the number of operators choosing the PWC® method when abandoning or restoring the integrity of hydrocarbon wells, which is encouraging”, said Mark Sorheim, CEO of HydraWell.

To date, 16 operators – including major, national and independent oil companies – have utilised the PWC® technology, installing close to 250 plugs worldwide.

HydraWell is jointly owned by the company’s management and private equity fund Norvestor VII, L.P., which is advised by Norvestor Equity AS – a leading private equity firm focusing on lower mid-market control investments in the Nordic region. HydraWell’s headquarter is based in Stavanger, Norway, with additional offices in Aberdeen, UK, and Abu Dhabi, UAE.

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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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