Maersk Oil awarded Aberdeen-based production and integrity evaluation specialist READ Cased Hole a multi-million dollar contract, five-year contract to be the primary service provider for cased hole logging services, including production evaluation and well integrity domains, which would be delivered across Maersk’s assets in the Danish North Sea.
The contract comes with an optional three-year extension.
“This contract puts READ on the track to working with Maersk for a quarter of a century and the results of this collaboration show that optimization and effectiveness is more than just an industry trend during tough times, but a sustainable practice with tangible results,” Roy Martin, CEO of READ said.
Maersk Oil produces a mixture of oil and gas oil from 15 fields in Denmark. Its biggest partnership is the Danish Underground Consortium (DUC) where 85% of the oil and 97% of the gas export in the country stems from.
In 2014, Maersk Oil operated a production of 140,000 b/d and 370 MMcm/d of gas and even though production is naturally declining, the oilfields still have sizeable resources remaining. Maersk’s recent expansion project at Tyra Southeast Oil and Gas Field, expected to add production of a further 50 MMboe over the next three decades, represents a significant long-term investment and underlines the value of Maersk’s operations within the Danish North Sea.