Aquaterra Energy, a leader in global offshore engineering solutions, has secured the company’s largest riser analysis contract to date, a five-year deal on April 13 with a major Middle Eastern operator to provide green and brownfield riser analysis.
Combined with other recent project wins in the Middle East, Aquaterra Energy will now deliver an estimated £1 million ($US1.37 million) of riser analysis work over the five-year period.
Acting as a primary riser analysis supplier, Aquaterra Energy will manage and deliver multiple scopes of long-term work using its in-house analysis teams. Located in Abu Dhabi and Qatar, the contracts incorporate a wide range of recurring brownfield riser analysis projects, with future greenfield opportunities. The brownfield platform modification projects include slot recovery, slot addition and assisting development of inspection program of existing conductors.
“The Middle East is embarking on its next stage as an oil and gas producing region,” Andrew McDowell, operations director at Aquaterra Energy, said. “Operators are now continuing to invest in new projects but also finding themselves with a glut of legacy assets coming to end-of-life from earlier generations of investment. To safely and efficiently maximize output, our expert riser analysts are perfectly placed to support operators with both green and brownfield projects. With a long-term contract in place, I see this as the start of a major period of growth for us in the region.”
Recommended Reading
US Drillers Add Oil, Gas Rigs for Third Time in Four Weeks
2024-08-09 - The oil and gas rig count rose by two to 588 in the week to Aug. 9. Despite this week's rig increase, Baker Hughes said the total count was still down 66 rigs, or 10% below this time last year.
US Drillers Cut Oil, Gas Rigs to Jan 2022 Low for Third Week
2024-06-21 - The oil and gas rig count fell by two to 588 in the week to June 21. Baker Hughes said that puts the total rig count down 94, or 14% below this time last year.
US Drillers Add Oil, Gas Rigs for Second Time in Three Weeks
2024-07-19 - The oil and gas rig count, an early indicator of future output, rose by two to 586 in the week to July 19, its highest since late June.
US Drillers Cut Oil, Gas Rigs for Second Week in a Row
2024-08-23 - The oil and gas rig count fell by one to 585 in the week to Aug. 23. Baker Hughes said that puts the total rig count down 47, or 7% below this time last year.
Amid Flagging US Activity, OFS Sector Looks to 2025—and Overseas
2024-08-13 - Despite a slowdown in U.S. activity expected to last until 2025, overseas and offshore markets helped the oilfield services sector deliver solid second-quarter results.