Repsol secures HydraWell to plug on NCS

23 May 2018 – Repsol Norge AS (Repsol) has awarded a frame agreement to HydraWell to provide technology and services for the operator’s plug and abandonment on the Norwegian continental shelf.

The frame agreement is valid for four years, with three additional two-year options

In principle this means that the Repsol can utilise HydraWell’s high pressure PWC® (Perforate, Wash & Cement) jetting system as their technical solution for all its wells that will be plugged and abandoned on the Norwegian continental shelf.

“Gyda is a significantly sized field with 32 well slots, so we are very thankful to be in position to support Repsol here and at the Rev field with three subsea wells,” says Mark Sørheim, CEO of HydraWell.

To conduct future P&A jobs for Repsol, HydraWell will offer its HydraHemeraTM PWC® jetting system, which can install a rock-to-rock barrier in less than 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 installed 232 plugs with the PWC®-method worldwide. An increasing number of operators prefer this option to traditional section milling, as it reduces both costs, HSE risks and the environmental footprint of each P&A job,” adds Sørheim.

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.

ENDS
For media information, please contact:
Endre Aaberg Johansen, Corporate Communications AS, tel: +47 41 61 06 05, email: endre.johansen@corpcom.no

PHOTO OF THE GYDA PLATFORM: Respsol Norge AS