Fossil Energy – Collaboration Agreement
DeepOcean and well management and reservoir specialist EXCEED have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services to the global decommissioning market.
The two companies combine DeepOcean’s subsea engineering competence and extensive fleet of WROVs and supporting subsea vessels with EXCEEDS’s specialist well decommissioning expertise to offer operator a single contract, turnkey P&A service for decommissioning projects.
The offering includes equipment, planning, execution and close-out, leaving a full audit trail to ensure optimum repurpose and re-use of retrieved assets.
The partnership has recently-completed a multi-well, vessel-based P&A campaign on behalf of Serica Energy. This campaign resulted in significant time and cost-savings as well as reduced CO2 emissions compared with rig-based P&A activity.
