Aberdeen-headquartered firm Petrofac has today announced a significant multi-million dollar contract for the next phase of Tullow Oil’s Thames Decommissioning project.
Petrofac will provide well operator and engineering project management services alongside undertaking plug and abandonment operations on seven of Tullow Oil’s subsea wells.
The contract will also require Petrofac to acquire a jack up rig as part of the project.
Alex Macdonald, managing director for 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.”
Back in 2016, Petrofac permanently abandoned two of Tullow Oil’s wells on the Horne and Wren asset where they delivered $2.5million in decommissioning cost savings.