Aquaterra Wins North Sea Contract
Aquaterra Energy won a contract to supply subsea high pressure riser (HPR) equipment and services for a subsea abandonment project in the central North Sea.
The multi-million dollar deal will see Aquaterra facilitate the abandonment of ten subsea wells via deployment of a subsea HPR system from a jack-up rig. The scope of work could be extended to include two further subsea wells bringing the total number of abandonments to 12.
Riser analysis was completed in-house by Aquaterra and validated by Bureau Veritas. It has confirmed a 50-year return storm operating envelope after HPR and rig optimizations were implemented. This has simplified the project operationally and reduced costs to the operator overall.
Aquaterra’s Initiation Engineering or ‘Well Start’ specialism has been implemented on the project to deliver a one-stop shop for extensive expertise to optimize well activity by taking responsibility for the entire first phase of the well. This approach minimizes third party interfaces across a client’s project and addresses supply and equipment requirements, before the introduction of a blowout preventer. It can also mitigate risk and cut down on costly logistics, capex/opex, the number of crew involved and therefore, helicopter and accommodation needs.
With global rates for semi-submersibles averaging around $250,000 per day in 2016, day rate rental charges for jack-ups in Europe and Asia remain considerably cheaper.
The project is expected to be completed by Q4 2017.