An Aberdeen-based well engineering and project management firm has won a contract worth up to £10 milion to provide complete well management services for a UK land well.
Zenith Energy, which was established in 2012, has been awarded the contract by London-based Terrain Energy, with planning for the UK land well due to start immediately in Lincolnshire.
Under the long-term agreement, Zenith Energy will provide the independent UK oil company with well planning services, contracting of the rig, procurement of tangible items and the supervision of drilling and completion operations, with drilling due to commence in the first quarter of 2016.
Martin Booth, Managing Director, Zenith Energy, said: “Having successfully delivered our first complete project-managed onshore well in the UK for Europa Oil & Gas, on time, on budget and safely earlier this year, we are delighted to have secured a second well project management contract so quickly.
“Terrain Energy will be our 23rd client since our inception three years ago, with the contract award being a testament to our experienced team of engineers we have assembled over the years. This award demonstrates that even in the current low oil price environment, there are opportunities for a lean independent well management company to secure work from both existing and new clients.”
Eric King, Director of Terrain Energy, said: “We know that Zenith have the experience, expertise and capability to complete the work efficiently and cost-effectively. This appraisal project is one of several exciting opportunities that Terrain is planning in 2015-16 and we look forward to working with Zenith on this project.”