European well decommissioning contract win for THREE60 Energy drives new jobs and growth

THREE60 Energy, a leading independent energy service company offering complete asset life cycle solutions, has been awarded a multi-million euro well decommissioning contract to plug and abandon multiple offshore wells in Europe.

The new contract will see THREE60 Energy permanently decommission 13 injection, production and observation wells, creating new jobs for the company in the UK and Europe.

THREE60 Energy, which has geographical hubs in UK, Norway and Malaysia, will utilise its well decommissioning team to deliver the plug and abandonment designs, prepare operational planning and supervise the offshore execution, which includes the management of the jack-up rig and well abandonment subcontractors.

Nick Ford, Wells UK Managing Director at THREE60 Energy, said: "With our strong track record of offshore delivery and well abandonment we bring almost 20 years of the technical skills, capabilities and experience needed to successfully deliver this significant well decommissioning project offshore Europe.

"We were thrilled to be awarded the work after an intensive tender process, in which we demonstrated our ability to deliver under competitive commercial terms. We look forward to safely delivering this exciting project, on time and on budget."

Walter Thain, CEO at THREE60 Energy, said; "This contract clearly demonstrates the opportunities available for supply chain companies globally, especially within decommissioning, and is a great example of transferring our competency and capability across multiple geographies. We're excited to continue growing our decommissioning delivery and play a key role in decarbonising the future as part of the wider energy transition." 

About THREE60 Energy

THREE60 Energy consists of four main service lines;

Subsurface

Its subsurface service line is a leading provider in the North Sea, Asia, Australia and across Europe, delivering over 250 projects within 10 years, for over 100 of the world's oil operators. 

Its subsurface team provides solutions in the fields of Geomechanics, Reservoir Engineering, Geo-Operations, Reservoir & Well Enhancement and Subsurface Consultancy to operations across its geographies.

The team has developed its own subsurface digital technology, Poseidon. This pioneering Locate the Remaining oil (LTRO) software reduces the time taken to crunch complex reservoir data from approximately six months to just six weeks, and effectively locates remaining moveable oil in place in mature fields. More recently the team has developed its own production engineering digital technology, Titan. This intuitive, user-friendly, digital platform efficiently delivers the full scope of production engineering services, ultimately increasing production at lower costs.

The Operations Geoscience team have been successfully delivering Client Service Representatives (CSRs) to the global offshore wind sector for many years. This service has been exported from SE Asia to Europe with multiple operations being completed to date and increased activity currently being seen in both regions. The company's new REMORA software package is currently being tested that will allow multiple operations to be assessed simultaneously and remotely from the worksite.

Wells

The Wells service line was founded in 2011 and has since built a strong demonstrable track record as leading drilling and wells delivery experts. It is made up of over 130 technical experts with backgrounds in drilling, completion, well construction, project management and plugging and abandonment.

The wells team are actively involved in assisting customers with their digital transformation strategies with fully executable plans now being realised.

The team have active associations that couple academia, in both Norway and the USA, with the geothermal energy industry aligning with the company's diversification of technical resourcing and energy transition strategy. Furthermore, supporting the UK polyhalite mining industry with technical drilling support for existing and new deepcast mining strategies.

Engineering, Procurement, Construction & Commissioning (EPCC)

This service line delivers engineering studies and brownfield engineering services through world-leading technical expertise and technology. By adopting smart workflows and the latest technology, it embraces challenge at every stage of the process, sourcing and developing the most effective solutions. This service line delivers at all stages of the EPCC process, from the conceptual engineering through detailed engineering design, analysis of projects and their viability, procuring all equipment and materials, and the construction and modifications that deliver a functioning facility or asset to clients.

Through its established track record of intelligent engineering, identifying and delivering emission reduction scopes and its sustainability advisory service, THREE60 Energy supports the renewable energy industry, including carbon capture and storage, offshore wind, electrification and hydrogen projects. 

Operations Management

The Operations Management service line was organically set up by ex-tier 1 operations service business leaders with the aim of creating a tier 2 operations service business. The company safely delivers to new entrants, independent E&P operators and late life asset owners having developed a track-record of executing O&M, duty holder and integrated service contracts with innovative commercial delivery models. The company supports all elements of the asset life cycle from producing assets through to decommissioning.

Find out more here: www.three60energy.com