The Peak Group Secures North Sea Contract with Century

The Peak Group has announced the latest development in its 20 well program of activity for the North Sea by securing a four well contract in the Southern North Sea with Century Exploration (UK) Limited.

Peak's well management division, Peak Well Management, has hired the GSF Labrador jackup from GlobalSantaFe for the contract for four exploration wells in the Southern North Sea.

Work on the project commenced in early June and is due to be completed in December. The value of the project is expected to be in the region of £25million and Peak will undertake a full project management role, providing all goods and services and liaising with third parties.

The contract is the latest to be announced by Peak, which will manage approximately 20 exploration and development wells in the North Sea on behalf of a number of clients, making it the third busiest drilling operator in the UK Continental Shelf this year.

The operations involve four different drilling rigs – jackups and semisubmersibles – operating from three different supply bases: Aberdeen, Great Yarmouth, and Heysham. The drilling is being conducted in the Southern, Central and Northern sectors of the North Sea as well as in the Irish Sea.

Globally, Peak anticipates drilling between up to 30 wells this year in Europe, Africa, the Middle East, AsiaPacific and the USA.

Ian Burdis, operations director of Peak Well Management, said: "This is an extremely significant contract for us. It aligns us with an active independent operator in the North Sea and also represents a further step in the transformation of PWM from a provider of manpower and systems to the delivery of a fully integrated well construction service.

"This is our first contract with Century Exploration (UK) Limited, and another involving a semisubmersible rig in the Central North Sea, is also in place."