Wireline Tractor Services News

Aker Solutions says it has completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund. The unit was sold for an enterprise value of NOK 4 billion and the agreement includes an earn-out provision where Aker Solutions will receive 25 percent of any internal rate of return exceeding 12 percent a year on EQT's equity investment. Aker explain that the business provides services that optimise flows from oil reservoirs. It is strongly positioned within wireline tractor services…

Aker Solutions has signed a contract with Dong Energy to provide well intervention services for the oil company's assets offshore Norway and Denmark. Under the contract Aker Solutions will deliver electrical wireline logging services and wireline tractor services at the oil and gas fields where Dong Energy operates on the Danish and Norwegian continental shelves. The contract is valid for two years plus an optional two-year extension (2+2). Aker Solutions estimates that the contract will generate revenues of approximately NOK 40 million annually.

Aker Solutions contracted by Dong Energy to provide well intervention services for the oil company's assets offshore Norway and Denmark. Well intervention services are carried out in an oil or gas well, with the objective of maximising production and increasing the recovery rate of oil and gas. Under the contract Aker Solutions will deliver electrical wireline logging services and wireline tractor services at the oil and gas fields where Dong Energy operates on the Danish and Norwegian continental shelves. The contract is valid for two years plus an optional two-year extension.

Aker Solutions has been awarded a four-year frame agreement from Statoil for delivering wireline tractor services on the Norwegian continental shelf. The frame agreement is valid for four (4) years from 2013 to 2017, with two additional two-year options (2+2). Aker Solutions will deliver well intervention services using its proprietary wireline tractor technology and wireline tractor application tools. Under the agreement Aker Solutions will deliver wireline tractor services to the platforms that Statoil operates out of Stavanger, Norway, including Statfjord, Volve, Sleipner, Snorre, Gudrun, Dagny and Ermintrude. The company will also provide wireline tractor services to the following fields in the Norwegian Sea: Morvin…

Aker Solutions wins a Statoil four-year frame agreement to supply wireline tractor services on the Norwegian continental shelf. The wireline tractor can push well intervention equipment several kilometres along highly deviated and horizontal wells. It has eliminated the need for more heavily equipped and costly well conveyance methods, thereby significantly reducing both operational costs and HSE risk. Under the agreement Aker Solutions will deliver wireline tractor services to the platforms that Statoil operates out of Stavanger, Norway, including Statfjord, Volve, Sleipner, Snorre, Gudrun, Dagny and Ermintrude. The company will also provide wireline tractor services to the following fields in the Norwegian Sea: Morvin…

Aker Solutions has been awarded two contracts from Island Offshore to provide well intervention services for Statoil in the North Sea. Scope of work is to deliver downhole well intervention services from Island Offshore's two riserless well intervention vessels Island Frontier and Island Wellserver. These operations include running of mechanical wireline, electrical wireline and wireline tractor services. The two contracts are valid for five years plus two optional two-year extensions (5+2+2). They will run from 2015, when the current contracts expire.

Aker Solutions has been awarded two contracts from Island Offshore to provide well intervention services for Statoil in the North Sea. Scope of work is to deliver downhole well intervention services from Island Offshore's two riserless well intervention vessels Island Frontier and Island Wellserver. These operations include running of mechanical wireline, electrical wireline and wireline tractor services. The two contracts are valid for five years plus two optional two-year extensions (5+2+2). They will run from 2015, when the current contracts expire.

BP Norge AS has awarded Aker Kvaerner a service contract for provision of personnel and equipment for well intervention services for the Ula, Valhall, Hod, Tambar and Skarv fields on the Norwegian Continental Shelf. The contract is for a firm period of five years plus a two year optional period. The estimated contract value for the initial five years is NOK 175 million. The scope of work comprises mechanical wireline services, wireline tractor services and cased hole logging services. The work will be undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner Well Service in Stavanger. Since the Ula field came onstream in 1986, Aker Kvaerner Well Service has provided well intervention services to BP.