16 February 2018 – TOTAL E&P Absheron B.V. (Total), acting as operator for and on behalf of a consortium presently composed of Total E&P Absheron B.V. (50%) and Socar Absheron LLC (50%). has tasked HydraWell to execute a part of plug & abandonment campaign at the Absheron field in the Caspian Sea.
To execute the campaign, HydraWell will utilise its HydraHemeraTM Perf, Wash and Cement (PWC®) jetting system, which can install a rock-to-rock barrier in two days. Plugging offshore wells with conventional methods, such as section milling, takes considerably longer time to complete, and drives the associated P&A costs up significantly.
“We have earlier supported Total elsewhere, but this is our first job in Azerbaijan. As cost reductions are still very much at the top of the oil industry agenda, it is great to work with operators to bring our Perforate, Wash and Cement® P&A methodology into new offshore regions,” says Mark Sørheim, CEO of HydraWell.
The contract value for HydraWell is undisclosed.
The P&A campaign will take place at the Total-operated Absheron gas field, which is 100 kilometres southeast of Baku and 25 kilometres northeast of the Shah Deniz gas field. Partners on the Absheron field are Total E&P Absheron B.V. (50%) and Socar Absheron LLC (50%).
So far more than 220 Hydrasystem P&A plugs have been installed worldwide on behalf of 16 operators including supermajors, majors, NOCs and independent oil companies.
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.
For media information, please contact:
Endre Aaberg Johansen, Corporate Communications AS, tel: +47 41 61 06 05, email: email@example.com
Illustration: Total. Main photo: SOCAR.