Petrofac awarded follow-on well decommissioning project

2/6/2018

LONDON -- Petrofac has been appointed to provide outsourced well operator services on the next phase of Tullow Oil’s Thames Decommissioning project, following the award of a new multi-million-dollar contract.

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 jackup 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.

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.

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