Aquaterra Energy, a leading provider of intelligently engineered products and services for well access and offshore developments, has secured a multi-year, seven figure contract with a global offshore services company. Under the agreement, Aquaterra Energy will deliver a subsea well access solution to support intervention and abandonment activities across 11 wells located offshore Spain.
The campaign, to be executed from a semi-submersible vessel, will see Aquaterra Energy supply a 7-3/8” ID, 5,000 psi rated intervention riser system, with proprietary AQC-CW connectors and a complete package of interface equipment for a series of offshore subsea abandonment operations. Aquaterra’s complete riser-based solution will integrate with the customer’s subsea pressure control equipment to enable efficient intervention and abandonment activities in Spanish waters.
George Morrison, CEO at Aquaterra Energy, said: 'Securing this multi-year contract is a significant milestone for Aquaterra Energy. Well intervention and abandonment is increasingly the defining challenge for many mature offshore basins and we have invested in building the team, capability and technology required to make these campaigns a success as our customers navigate complex late-life field operations.'
The news comes as well-plugging and abandonment (P&A) remains the single biggest driver of decommissioning spend across Europe. According to Westwood, P&A is expected to account for around half of total decommissioning expenditure in the UK North Sea, while North Sea Transition Authority data also shows that more than 500 UK wells have already missed their original decommissioning deadlines. Similar pressures are facing Spain, where ageing subsea wells are moving into the abandonment phase and driving demand for efficient P&A campaigns.
Ben Cannell, Innovation Director at Aquaterra Energy, commented: 'Well access to support intervention and abandonment remains a key focus for us as we continue to expand our capability and presence in this market. This project is a strong example of collaboration in action, bringing together our riser-based well access solution and OEM AQC-CW connector technology to deliver a practical, integrated system that supports safe, efficient and reliable offshore operations throughout complex abandonment campaigns.'
Source: Aquaterra Energy
