Friday, 16 November 2018

Oil & Gas News

Aquaterra Energy Bags Another Johan Sverdrup Win

Aquaterra Energy, a leader in global offshore engineering solutions, has been awarded a contract by Equinor to deliver early well construction operations for the next sixteen wells of the Johan Sverdrup field development.

The award follows Aquaterra Energy’s successful Phase I Tie-Back project for the engineering of nine complete strings of centralizers and tieback engineering services, which were delivered in Q3 2018. Under the new contract, the company will supply its Well Start solution to engineer conductor guide, cellar deck and internal centralizers for the field to ensure conductor performance for the 50-year field life. The project, set to commence in Q4, will also include hang off tools for the conductor.

Aquaterra Energy smallWell Start is a single source solution that manages the complete set of early well construction activities including third-party interfaces, engineering and equipment. Aquaterra Energy’s unique approach combines project management, analysis and bespoke and standardized products, to streamline the supply chain and reduce challenges associated with well initiation. This minimizes the risk of delays and offers operators multi-million-dollar savings in rig time and resources.

Christian Berven, Norway Business Development Director at Aquaterra Energy, said: “After successfully completing the first stage of the project, we can use our learnings and technical expertise to optimize the new wells. Equinor has already reduced the total estimated investment by 6 billion NOK since February of this year. Our goal is to keep costs low by continuing to streamline their early well construction operations to reduce time to first oil.”

Johan Sverdrup is one of the largest offshore oil fields on the Norwegian continental shelf, with estimated reserves of up to 3.2 billion barrels of oil equivalent. The project includes the next 16 wells of the field’s development, including measures to facilitate power from shore to the Utsira High. Production start-up is planned for Q4 2022.

Aquaterra Energy will undertake the work from Norwich and Stavanger and is set to deliver the project in Q1 2019

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