Offshore staff
(Asia-Pacific) - The Peak Group has brought together four independent operators for its first multi-well, multi-operator well management project in Australia.
In total, the various projects will involve expenditures in excess of $72.3 million.
The eight-well campaign, which is expected to take just over one year to complete, has been created by the well construction project management team in the group's Asia-Pacific business unit.
A variety of Australian and international E&P companies are cooperating in the program, which was developed on the back of AED Oil Ltd.'s Puffin development.
Once the rig had been contracted by Peak, the operating group was then expanded to include Santos, ENI, and ConocoPhillips.
One of the major differentiators between this project management agreement and others is the holding of the service contracts by Peak.
Peak will hold the contracts for the semisubmersible drilling unitStena Clyde, the supply vessels, the third-party service contracts, and the logistics and supply base services.
Participating in the Peak-coordinated rig-share agreement provides the client operators with the financial benefits and synergies of a multi-well program that is normally only available to operating companies with substantial exploration and development program, says the company.
These benefits include, amongst others:
· Sharing the substantial mobilisation and demobilization costs,
· A stronger negotiating capability with the service sector because of the extended campaign and Peak's international position, and
· The provision of an integrated operations team's established working relationships comprising Peak's onshore and offshore management team and the rig and service contractor personnel.
This is the first time in Australian operations that a well construction project management company has established a shared program of activity for operators, says Peak.
Peak will provide a complete well construction project management and procurement service for most elements of AED's three Puffin wells.
The campaign will involve the drilling and completion of two development wells; Puffin-7 and Puffin-8 and the drilling of the Puffin-9 exploration well.
The three wells are located in AED's permit area, AC/P-22 in the Bonaparte basin, approximately 80 km south west of the Jabiru and Challis oil fields.
The Puffin-7 production well will be completed with a 460 m horizontal lateral.
Puffin-9 will be a low angle exploration well to 3,000 m below the seabed.
At the time of writing, the team was finalizing the well design for the Puffin-8 well.
Drilling operations began on the Puffin-9 well on March 8, with the P50 campaign time for completion of the three wells being 95 days.
03/21/06
