The Norwegian operation of an undisclosed international oil company has awarded HydraWell a long-term contract for plug & abandonment (P&A) and slot recovery operations on a major field on the Norwegian continental shelf (NCS).
The contract is valid for five years plus three additional three-year options (5+3+3+3). The contract value has not been disclosed.
The operator will utilise HydraWell’s HydraHemera second generation high pressure Perf, Wash & Cement, PWC® jetting system as their chosen technical solution for both P&A and slot recovery operations. The PWC®-technology plugs offshore wells in 2-3 days, compared to traditional section milling operations which often takes 10-14 days to complete.
“This operator knows us and our technology well. It is an innovative player dedicated to driving down costs for plugging operations. To be able to partner with them over the next five years and beyond will further deliver cost efficiencies to all stakeholders, including the Norwegian Tax Payers,” says Mark S?rheim, CEO of HydraWell.
HydraWell will manage the contract out of its headquarters in Stavanger, Norway.