Oil and gas service company TEMS International has secured two new contracts for work in the deepwater Gulf of Mexico, the company said on June 11.
TEMS International, which has offices in Houston, Aberdeen and Kuala Lumpur, has been awarded the separate contracts by two Houston-based E&P companies. It won both contracts in recent months and operations are already underway, with each scheduled to last for a minimum of 12 months. Combined the two contracts are worth in excess of $1.2 million.
The independent company will provide its continuous environmental compliance and drilling performance management services on both projects. These services work to ensure that drilling operations surpass the local environmental regulations of specific drill sites and improve the efficiency of drilling operations to reduce waste and costs and lessen the carbon footprint of the drilling asset.
As a result of improving the performance of drilling fluids and reducing waste onboard a drilling asset TEMS International can generate six-figure savings for clients over the lifetime of a well. The scale of savings varies depending on many factors associated with the well.
TEMS International works around the world supporting E&P companies during drilling operations. In addition to its continuous environmental compliance and drilling performance management services, the company offers environmental rig and vessel audits, and drilling performance waste management services.
“On numerous other projects we have achieved substantial cost savings for clients during drilling, in some cases as much as $750,000 per well. The scale of savings varies from well to well and can depend on the solids control equipment and drilling fluids in use and the geology of the well being drilled. Our guidance on environmental compliance prior to and during a drilling campaign also offers peace of mind to clients,” Bill Walkingshaw, TEMS International managing director, said.
“The variance in the oil price is necessitating operators to review all options for improving drilling efficiency, without impacting safety or the environment,” he added.
Plan would allow Platts to include US crude in its benchmark.
Both Brent and WTI contracts surged more than 4% on March 5 after OPEC and allies, together called OPEC+, extended oil output cuts into April, granting small exemptions to Russia and Kazakhstan.
The market has been expecting the OPEC+ group of producers to ease supply cuts but sources say some key members had suggested that oil output across the OPEC+ group should be kept unchanged.