HOUSTON--(BUSINESS WIRE)--Energy services provider Expro (NYSE: XPRO) has secured a new contract with Harbour Energy for a well abandonment campaign as part of the decommissioning project for the Balmoral area, in the UK Continental Shelf.
The multi-year contract, valued at more than $20 million, will utilize Expro’s Subsea Well Access technology with a combination of open-water and in-riser applications deployed from a semi-submersible rig.
Wells that require abandonment tend to suffer from loading and fatigue issues on the wellhead and Xmas trees. Expro’s ability to supply a lightweight open-water system will help to mitigate these loading issues during the subsea well access intervention part of the overall abandonment campaign.
Expro’s open-water and in-riser bore selector technology, which eliminates the use of a dual bore riser for the entire abandonment campaign, is designed to deliver significantly reduced system deployment and retrieval times and with lower maintenance costs.
To overcome key technical requirements from the customer, Expro devised an innovative technological solution based on a new build lightweight intervention system, incorporating its unique subsea ball valve technologies. Expro’s existing API 17G standard high debris ball valve was recently qualified to provide a single ball cut and seal on coil tubing. This ball valve technology will be re-packaged into bespoke open water riser housings to provide the lightweight solution required.
The solution developed for this award expands Expro’s subsea well access portfolio and allows Expro to now supply the client with all the subsea well access tooling required for the abandonment campaign on the Balmoral area, for horizontal and vertical Xmas Trees.
This contract award further extends Expro’s involvement in this major campaign, with our Well Test and Well Construction teams already supporting the project. It will be delivered from Expro’s Aberdeen facilities.
Colin Mackenzie, Expro’s Vice President of Europe and Sub-Saharan Africa, said:
“We are proud to have secured this award by offering an innovative approach to meet the needs of this important customer. We believe that our leading-edge technology continues to deliver safe, reliable and environmentally secure subsea well access in support of major projects around the world. We are delighted to further extend the scope of our partnership on this campaign which reinforces our position as a key enabler within the plug and abandonment market.”
Notes to Editors:
Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.
With roots dating to 1938, Expro has approximately 7,600 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s delivery of safe, reliable and environmentally secure subsea well access, the Company’s environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.