Petronas Awards Well Intervention Contract

Petronas Awards Well Intervention Contract
Welltec has won a long-term intervention contract from Petronas.

Petronas (6033:KL) has awarded Welltec an exclusive three-year intervention contract across Malaysia, Welltec reported Tuesday.

The agreement, which took effect on April 1, designates Welltec Petronas’ sole provider of downhole conveyance and powered mechanical services in Malaysia’s East and West regions, Welltec pointed out in a written statement emailed to Rigzone.

“It’s a great team effort that has led to the award of this exclusive long-term contract with Petronas, and Welltec has demonstrated a strong ability to deliver, even through a challenging 2020, high-quality services in a safe manner to the largest assets in the country at a very cost-effective rate,” commented Espen Dalland, Welltec’s area vice president for Asia-Pacific. “This winning combination is the foundation for Petronas awarding us an even larger work scope for the next three years, where we will continue to deliver world-class technology and services.”

Dalland observed the development marks the third new Petronas contract Welltec has won, following awards in 2014 and 2017 and a contract extension in 2019. Welltec stated the services under the latest deal are based on daily or monthly rental and will be selected by various Petronas assets for any upcoming project in the next three years. The company added that service delivery encompasses its entire intervention portfolio.

“Petronas is a key customer in the region who over recent years have moved more and more towards an integrated approach for intervention,” remarked Alex Nicodimou, Welltec’s sales and marketing vice president. “The fact they have provided us 100% of their intervention work speaks volumes about their belief in our technology and ability to deliver. We’re looking forward to continuing to support them to the best of our abilities.”

To contact the author, email mveazey@rigzone.com.



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