Prosafe and PE&C Team Up for Norsk Hydro Contract

Norsk Hydro has awarded Prosafe Drilling Services and Petroleum Engineering and Consulting a framework agreement for drilling and well engineering services. The agreement has a duration of 2.5 years, with an option to extend the agreement.

Maintaining a high oil and gas production in the North Sea in the years ahead requires innovation and restructuring in the industry. This will involve both technology and competence development, and will at the same time imply the entry of new players in the market, new co-operation constellations and new contract alternatives in which the upside to a larger extent benefits the supplier given a safe and efficient operation in accordance with agreed plans and goals. In total, these trends will be demand drivers that will contribute to prolong the activity on the Norwegian Continental Shelf (NCS) and to increase the scope of services being offered by the contracting industry. PDS and PE&C have therefore entered into a co-operation agreement to adapt themselves to the new challenges in the market. Together, the two companies will be complimentary and possess a unique competence with regards to attending and managing an oil- and/or gas well’s life cycle (Well Construction & Management Services).