Dundee-based Flintstone Technology – which specialises in offshore marine cranes and handling systems – has secured a substantial contract with MODEC for its in-line tensioning and pull through connection mooring system to be deployed off West Africa.
The system will be used on Tullow Oil’s Kwame Nkrumah MV21 floating production storage and offloading vessel located on the Jubilee field off the coast of Ghana.
The mooring system will allow the conversion of the FPSO to a spread moored configuration.
The Kwame Nkrumah MV21 is installed in approximately 1,100 meters water depth on the Jubilee Field, which is one of the largest oil fields discovered offshore West Africa in the past 10 years.
Flintstone managing director Andrew Clayson said: “We are very pleased to see our technology being used to provide a solution to what is a complex and challenging situation with the existing mooring arrangement.”
$10m new oil contracts boost for Aberdeen’s XL Group
Aberdeen-based XL Global Group has re-launched itself as a technology and engineering group, following a period of investment in acquisitions, new divisions, people and technology.
Initially formed in 1993 by Colin Laird, founder and chief executive, the integrated group has recently won more than $10 million in new contracts and now comprises eight divisions following the recent acquisitions of Valve4U and OGV as well as the creation of Integrity XL.
Well-Safe sets up five ‘P&A Clubs’ to cut N. Sea decommissioning costs
Well-Safe Solutions has now set up five different ‘P&A club’s to reduce the cost of oil well plug and abandonment works following significant interest in this innovative approach by operators in the North Sea.
The ‘P&A club’ concept, launched recently by the Aberdeen-based well abandonment specialist, introduces a new commercial model that tackles costly and complex late-life activity.
By becoming a member of Well-Safe’s P&A club and adding their well stock into the club, operators can spread the risk and cost of plugging and abandoning wells with others in the club and use economies of scale to safely remove hundreds of wells rather than focusing on individual wells, or a smaller numbers of wells.
The club approach is designed to reduce costs by 35% or more by leveraging campaign-based savings, not only for small well counts, but also by spreading spend.
It offers flexibility to phase abandonment expenditure through the club’s programme of work to maximise knowledge capture and management from a multi-operator well campaign approach. It also offers cost certainty, while minimising risk and non-productive time.
Mark Patterson, Well-Safe founder and executive director, explained: “We’ve hit on a way to help operators meet the challenges and regulatory imperatives around the plug and abandonment of wells that is simple, smart and cost-effective.
“Using the P&A Club model, where multiple operators subscribe to the ‘club’ and where their well inventory is pooled, the P&A works will be delivered with cost certainty because we agree a fixed target cost per well.”
Well-Safe has already created 30 new jobs in its Aberdeen head-quarters and it has also secured a 40,000sq ft marine and logistics base in Dundee.
2 May 2018