Well management firm Exceed is on course to post record-breaking revenue for the current financial year as it continue to make strides in the energy transition.
The Aberdeen-headquartered company is forecasting annual turnover in the region of £30 million, around 40% of which will come from operations in the decarbonisation space.
In recent years Exceed has grown to be the largest independent well & reservoir management specialist, and it currently acts as operator for four clients.
To date it has helped to decommission more than 150 wells, reducing costs and carbon footprints.
So far this year its expertise in safely shutting down old wells has played a significant role in its clients’ North Sea net zero strategies.
Activity includes a six-well plug and abandonment campaign, a late life asset management -decommissioning alliance with a Tier 1 service company and supporting an operator with the development of world first well access technologies for the decommissioning of complex subsea wells.
In addition, a second vessel-based well P&A campaign is due to commence next month.
The company’s Subsurface experts have been instrumental in the potential repurpose of the Rough Bravo field for large scale hydrogen storage.
Collaborating with Centrica Energy Storage+, Exceed has provided conceptual work and leading geo-mechanic and reservoir modelling in conjunction with a number of universities.
© Supplied by ExceedJohn Anderson, commercial director, said: “Maximising clients’ economic recovery factor plays a critical role in ensuring the sustainable global energy transition to which we are clearly 100% committed. This includes the recent award of two major global well engineering and managed pressure drilling framework agreements, and HPHT and deepwater operations in frontier producing regions, including Namibia, Romania and Guinea Bissau.
“We’re addressing the energy trilemma of security, affordability and sustainable decarbonisation not only through decommissioning, reuse and repurpose, but also through the application of our world-renowned well engineering and drilling capabilities, which follow a strategy to eliminate or reduce each project’s direct emissions where possible.”
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