Claxton, the lead brand of UK-based Acteon’s drilling and decommissioning business segment, has signed a master services agreement with Thailand-based Beacon Offshore for the severance and recovery of more than 100 subsea wells in the Gulf of Thailand.
“The relationship with Beacon Offshore is a milestone for long-term collaboration in the region which was underpinned by significant effort and commitment by all parties. We are very excited about this project as it highlights Claxton’s rigless P&A capabilities and reflects the expertise of Claxton as a trusted partner in vessel-based decommissioning,” said Claxton chief executive Sam Hanton.
Decommissioning Southeast Asia’s ageing oilfields offers a vast but challenging market opportunity. More than 200 offshore fields are expected to stop producing in Southeast Asia by 2030 with total decommissioning costs estimated to range from $30 billion to as much as $100 billion.