Product category:
Oil, Gas, Petrochemical Industry News
News Release from: Peak Production Equipment
Edited by the Processingtalk Editorial
Team on 14 June 2005
International well construction
performance expert
The Peak Group has secured a major contract with Australian oil exploration company AED Oil for the provision of its well construction project management and procurement services
The Peak Group has secured a major contract with Australian oil exploration company AED Oil for the provision of its well construction project management and procurement services Peak has also been contracted to provide a drilling rig for AED production and exploration drilling campaign in the Timor Sea
This article was originally published on Processingtalk on 9 Jun 2005 at 8.00am (UK)
Related stories
Australian well management contract
A major contract has been won by the Peak Group with Australian oil exploration company AED Oil for the provision of its well construction project management and procurement services
Functional test system for motor drive systems
The latest generation of motor drive systems from Control Techniques are benefiting from sophisticated functional and flash test systems developed by the Peak Group
The Peak Group will deliver a complete well project management service for three wells located in the AED permit area, AC-P-22, within the Ashmore Cartier area of the Vulcan Sub-Basin, in the Bonaparte basin.
It is approximately 80 kilometres south west of the commercial Jabiru and Challis fields.
The job will include detailed well design, tendering and contracting for all services, execution of the drilling programme including materials and logistics, project completion and operations wrap-up.
Further reading
Aker acquires Qserv: boosts well service business
Aker Solutions has acquired all the shares in Qserv, a leading provider of well, process and pipeline services in the North Sea and International markets
Lukoil Neftochim Burgas selects Axens hydrocracker
Lukoil Neftochim Burgas AD has selected Axens to design and license technologies to convert Urals blend vacuum residue and gasoil (VGO) at its 165,000 barrel per day refinery in Burgas, Bulgaria
The Peak Group will also provide a semi-submersible drilling rig, the 'Stena Clyde', and act as project service manager for the drilling in the AED permit area.
Planning and operations management services will be conducted in Melbourne in close collaboration with AED Oil and Upstream.
Drilling activity is expected to commence in the second half of 2005 and the contract value is in the region of AUS $1million.
Bob Lyons, managing director of Peak Well Management, The Peak Group well management division, said: "This is a landmark contract win for Peak and strengthens our position in Australia and Asia Pacific.
A key part of the selection criteria was our ability to secure a rig in a highly competitive market.
We look forward to growing and enhancing our relationship with AED throughout the development of this project".
The Peak Group's business development director, Hugh Mackay, said: "This contract strengthens our portfolio of clients and enhances the Peak Well Management reputation as a key provider of fully integrated well construction services.
We are delighted to be playing a significant role in a fast track development project.
It has been our strategy to grow our business servicing development projects, we anticipate that this will be an area of future growth for the industry and it builds on our experience gained in development projects in the UK, Iran and West Africa.
The Peak Group holds the contract for the Stena Clyde and we intend to create a multi-client programme for the rig in Australia.
This will bring the benefits and synergies of participation in a larger programme to all our clients.
Peak has successfully created multi-client programmes in the UK and we intend to do the same in Australia and West Africa".
Managing Director of AED Oil, Dr Ken Tregonning, said: "Signing the contract is an important achievement for us and we are delighted to have reached this agreement with Peak.
Securing the drilling rig is a major step in the relatively short history of AED and will enable drilling to start within the scheduled timetable and on terms consistent with the estimated project costs.".
• Peak Production Equipment: contact details and other news
• Email this article to a colleague
• Register for the free Processingtalk email newsletter
• Processingtalk Home Page
