READ Secures Services Contract with Maersk Oil
Aberdeen-based well integrity specialist READ Cased Hole, announced Thursday that it has secured a multi-million dollar services contract with Danish energy company Maersk Oil.
The five year contract, which includes an optional three-year extension, appoints READ as the primary service provider for cased hole logging services, including production evaluation and well integrity domains, across Maersk’s assets in the Danish North Sea. Maersk Oil produces a mixture of oil and gas from 15 fields in Denmark. In 2014, the company operated a production of 140,000 barrels of oil per day and 370 million standard cubic feet of gas per day.
Roy Martin, CEO of READ, commented in a company statement:
“The new contract win is a testimony to our 17 year-strong and successful relationship with Maersk, and we are confident that the range of production and well integrity solutions READ will continue providing will be instrumental for Maersk’s success as the market leader in mature well management and recovery. 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.”
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