Oil-well management specialist Exceed has formed a strategic alliance with international oil and gas service company, Weatherford to address the North Sea’s £50 billion ‘end of life’ decommissioning market.
The collaboration will offer an end-to-end solution for well decommissioning, using an integrated team which brings together extensive technical and commercial capabilities.
The expertise brought from both companies means that commercial models can be flexible and tailored to meet client requirements. Significant value is added through cost savings to operator groups through bulk purchases, shared equipment and resources, and improved safety and operational performance through an incentivised approach.
The collaboration also opens up potential to create a project-wide EPC approach through the appointment of further partners. Global agreements have already been established with a number of internationally recognised service providers to expand the service portfolio as and when required.
The collaboration follows Exceed’s recent plug and abandonment contract win with Fairfield Energy, which will see the firm support a campaign which covers 45 platform wells and 16 subsea wells, and recognises the Exceed team’s strong track record in decommissioning.
John Anderson, Commercial Director at Exceed, said: “This alliance is a major step forward in demonstrating what collaboration in the decommissioning sector should actually look like.
“Integrating the supply chain, sharing resources and drawing upon a knowledge base which extends beyond one company will mean major savings, quicker project execution and effective risk management. There is great potential for this joint approach both now and in the future.”