Under the terms of the award, Petrofac will provide well engineering project management services and fully execute plug and abandonment operations on seven of Tullow Oil’s subsea wells. This will include detailed planning, direct procurement and management of all sub-contracted services, including provision of a jack-up rig. Petrofac has also been nominated as Well Operator for the project.
In 2016 the Company permanently abandoned two wells for Tullow Oil on its Horne & Wren asset, delivering cost savings of US$2.5million through its differentiated approach to decommissioning.
Alex Macdonald, Managing Director – Well Engineering, Petrofac Engineering and Production Services, said: “Having proven our integrated well engineering services capability and realised substantial cost savings for Tullow Oil, we are delighted to have an opportunity to further strengthen our relationship.
“Certainty of cost and schedule are critical success factors for this project. We have worked collaboratively with our supply chain to develop a shared approach to risk and reward, which supports delivery excellence. We very much look forward to realising this added value for Tullow Oil as the project progresses.”
Petrofac became the first outsourced Well Operator to execute fully integrated Well Operator services in 2016. The company’s Well Operator capability evolved from its outsourced Service Operator model and its extensive track record in well project management, enabling Petrofac to provide a standalone or integrated approach to the management of wells, installation and pipeline operations.
