A new contract expected to be worth more than $1m (US) has been secured by HydraWell in Australia marking our second major contract win in the region in recent months.
The scope of work will involve the permanent abandonment of three wells in the first decommissioning campaign using the Jack Up Tom Prosser in offshore Western Australia.
HydraWell will implement its Perforate, Wash & Cement (PWC®) system, designed for specialist wellbore applications, on our client’s offshore assets as part of the campaign. The PWC® system provides a revolutionary solution to replace traditional Plug & Abandonment (P&A) and downhole tooling techniques.
This latest contract win is indicative of the current environment in Australia which is experiencing a renewed focus on the safe and timely shut down of suspended assets.
Ivar Holm, HydraWell’s Regional Sales and Operation Manager, who will lead the project from Perth, Australia, said:
“This new agreement with our client in Australia symbolises a significant step forward in our growth strategy as we focus on developing a sustainable business in Asia-Pacific.
“The contract win secures our long-term commitment to the region and we are delighted to support our client’s project to fulfil its significant P&A requirements.”
Equipped with the tools in Australia to perform all P&A application required, Hydrawell personnel will be recruited to work alongside the Operations team in Australia to complete the campaign.
PWC® can report six-and-a-half years LTI free offshore operations and it produces zero swarf handling issues and zero metal shavings sparking huge and positive environmental benefits due to the elimination of transportation needs, pollution risk and landfill capacity.
Mark Sørheim, HydraWell Chief Executive Officer, said the contract win demonstrates the growth of the decommissioning and abandonment sector in Asia-Pacific:
“We are delighted to have secured our second large scale contract in Australia as we drive forward with expansion plans in this region.
“This new agreement confirms the region’s interest in adopting sustainable decommissioning solutions and will allow HydraWell to make a bigger commitment to one of our major global hubs in terms of resources.
“Our strong track record in P&A operations, underpinned by a well sustainability strategy and a deeper sense of responsibility, will ensure our clients have a safe and dependable partner throughout key environmental campaigns,” added Mark.