Aquaterra, Oceaneering enter North Sea decom partnership

Jan. 29, 2020
Aquaterra Energy and Oceaneering International Services have signed a memorandum of understanding to jointly provide decommissioning and late life solutions to the North Sea oil and gas industry.

Offshore staff

NORWICH, UKAquaterra Energy and Oceaneering International Services have signed a memorandum of understanding (MoU) to jointly provide decommissioning and late life solutions to the North Sea oil and gas industry.

They will offer tooling and services for platform well abandonment, subsea well abandonment, topside and jacket removals, and subsea removals.

Oceaneering will contribute a broad tooling portfolio and cutting, severance and dredging services, with Aquaterra Energy applying its experience in ‘intelligent engineering’ and project management expertise, along with its own equipment inventory.

Aquaterra’s managing director James Larnder said more than £15.2 billion ($19.78 billion) will be spent on decommissioning across the UK continental shelf over the next decade, with 2,379 wells set to be decommissioned over the same period.

The initial focus will be on the southern North Sea, using Aquaterra’s Great Yarmouth base to deploy technology and personnel offshore.

In addition, the company is developing a new decommissioning and late life conductor retrieval system to support the combination, and this should be ready for deployment in mid-2020.

01/29/2020