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COOEC Offshore & Expro Form International Riserless Well Intervention Alliance

Source: www.gulfoilandgas.com 8/12/2019, Location: Asia

China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The formal exclusive agreement allows both companies, which are already globally recognised as safe providers of high-quality subsea and well intervention solutions, to expand its capabilities and resources.

COOEC Offshore, as a division of COOEC, is a large offshore engineering contractor servicing the full lifecycle of offshore from field development through field decommissioning. With over 22 specialised marine assets, subsea intervention equipment and in house engineering, the venture into deepwater Riserless Well Intervention (RWI) will further strengthen the depth of service offering to industry.

Expro, as a premier well flow management group, already maintain a leading position in subsea landing string and well intervention markets and has recently entered the riser-based intervention market with the Intervention Riser System (IRS). As part of this alliance, RWI system provides a field proven, established and reliable wire through-water integrated solution for carrying out cost effective intervention and/or abandonment operations on all types of subsea well.

Under the alliance, COOEC Offshore and Expro will deliver this new system to market in 2020, tested and ready for service. The system will be deployed off the new state of the art HYSY287 DP3 construction vessel with a dedicated handling and deployment system to facilitate slick and efficient well construction, well intervention and well plug and abandonment (P&A) activities. Furthermore, with Expro’s recent acquisition of Quality Intervention (specialising in coiled tubing and annular integrity technologies), the propriety coil hose technology for open water will be a key exclusive capability onboard the vessel.

The alliance ensures minimal interfaces, integrated management teams and the majority of the services being delivered in-house.

COOEC Offshore commercial director, Brett Silich, said the agreement was an exciting development for both companies, which already enjoyed formidable reputations as providers of high-quality offshore solutions.

"This is an extremely significant alliance for both companies that wish to cement their position in the subsea well intervention market long into the future. Allowing us to use our respective key strengths, developed through solid offshore experience across the globe, to further enhance the highly specialised services we provide to our valued global customers," Mr Silich said.

Expro Light Well Intervention Services (LWIS) Global Sales Manager, Kevin Illingworth, said the strategic alliance would benefit customers around the world.

“The agreement is an opportunity for both companies to combine our efforts and provide a very attractive commercial alternative to rig-based intervention. It complements our range of services and ultimately the quality of well access and well intervention services available to our clients. Both parent groups have a long standing and close working relationship that ensures deep collaboration” Mr Illingworth said.

COOEC Offshore will continue to focus on its international expansion while growing its network of international alliance partners.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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