Repsol Secures HydraWell to Plug on NCS
Thursday 24 May 2018
Repsol Norge AS (Repsol) has awarded a frame agreement to HydraWell to provide technology and services for the operator’s plug and abandonment on the Norwegian continental shelf.
The frame agreement is valid for four years, with three additional two-year options.
In principle this means that the Repsol can utilise HydraWell’s high pressure PWC® (Perforate, Wash & Cement) jetting system as their technical solution for all its wells that will be plugged and abandoned on the Norwegian continental shelf.
To conduct future P&A jobs for Repsol, HydraWell will offer its HydraHemeraTM PWC® jetting system, which can install a rock-to-rock barrier in less than two days. Plugging offshore wells with conventional methods, such as section milling, takes considerably longer time to complete, and drives the associated P&A costs up significantly.
HydraWell is jointly owned by the company’s management and private equity fund Norvestor VII, L.P., which is advised by Norvestor Equity AS – a leading private equity firm focusing on lower mid-market control investments in the Nordic region. HydraWell’s headquarter is based in Stavanger, Norway, with additional offices in Aberdeen, UK, and Abu Dhabi, UAE.