SPS Receives Major Wellbore Assurance Contract

SPS, the leaders in Wellbore Assurance(TM), has been awarded a major contract with BHP Billiton to supply SPS proprietary wellbore preparation services for the "Neptune" Atwater Valley 574 Unit, a seven subsea well project in the Gulf of Mexico. Financial terms of the contract were not disclosed. In addition to BHP Billiton, partners in Neptune include Marathon Oil Company, Woodside Energy (USA) Inc., a subsidiary of Woodside Petroleum Ltd., and Maxus (US) Exploration, a subsidiary of Repsol YPF.

David Barton, SPS Vice President Americas, said: "This contract is a further step in demonstrating that the industry is recognizing that the optimal preparation of the wellbore prior to the completion phase can save millions by reducing potential NPT and improving the effective productivity of the well. As the proven specialists in this field, we have a successful track record in deepwater and subsea completions and this is a contributing factor in being awarded contracts such as this in a fiercely competitive arena".

SPS provides displacement and mechanical wellbore cleanup systems that ensure that prior to the completion phase the wellbore is in optimal condition by being free of debris and any obstruction that might impair the setting of the completion assembly.

Wellbore Assurance is the critical bridge between drilling and completion which is required to optimize the wellbore before production; delivering significant savings and improved returns.