Ocean services provider DeepOcean and well management and reservoir specialist EXCEED have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services to the global decommissioning market.

The two companies combine DeepOcean’s subsea engineering competence and extensive fleet of WROVs and supporting subsea vessels with EXCEEDS’s specialist well decommissioning expertise to offer operator a single contract, turnkey P&A service for decommissioning projects. The offering includes equipment, planning, execution and close-out, leaving a full audit trail to ensure optimum repurpose and re-use of retrieved assets.

“Compared to rig-based P&A, we believe this partnership can deliver significant time and cost benefits to operators’ decommissioning projects. Our complementary service offering has already proven that it can provide a comprehensive, best in class solution to well decommissioning. We are excited about further developing our relationship with EXCEED,” says Olaf A. Hansen, managing director, DeepOcean Europe.

The partnership has recently-completed a multi-well, vessel-based P&A campaign on behalf of Serica Energy. This campaign resulted in significant time and cost-savings as well as reduced CO2 emissions compared with rig-based P&A activity.

“By pairing DeepOcean’s subsea engineering competence and diverse global fleet of vessel with EXCEED’S specialist range of well decommissioning expertise, we can offer the international decommissioning sector a world-class vessel-based well P&A service. Forged in the North Sea, we look forward to continuing this relationship by commencing another multi-client, multi-well campaign later this year,” says John Anderson, commercial director at EXCEED.

EXCEED’s dedicated vessel-based decommissioning team provides a fully compliant subsea wellhead removal service. Removing post-decommissioning liability, clients also benefit from cost efficiencies via a campaign approach.

“Our joint competence, technology and assets allow this partnership to deliver safe and efficient offshore operations to clients both here in the North Sea and further afield. We look forward to cooperating with our clients to develop multi-well campaigns that will deliver significant cost and time savings,” says Robin Mawhinney, managing director of DeepOcean’s UK operation.

About DeepOcean

DeepOcean is a world-leading ocean services provider, enabling energy transition and sustainable use of ocean resources, offering survey, engineering, project management, installation, maintenance, and recycling services for oil and gas, offshore renewables, deep sea minerals, and other ocean services.

Across the global offices, DeepOcean is a trusted independent solutions provider with highly skilled industry experts, using world-class fit-for-purpose tools and technology to drive cost-efficient and safe operations. The company delivers innovative engineering solutions focusing on remote and unmanned operations and digitally enabled services while continuously striving to lower the carbon footprint.

DeepOcean is owned by Triton, a leading European mid-market sector-specialist investor. As an active owner, Triton supports its portfolio companies to reach their full potential and works closely with DeepOcean to drive value creation. Founded in 1997, Triton invests in businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.

About EXCEED

The EXCEED mission is to maximise the recovery factor and manage the productive life of our clients’ assets whilst enabling the energy transition to Carbon Zero. An EXCEED partnership enables our clients to accelerate exploration to full field development through flexible and scalable access to multi-disciplined expertise, removing the cost of maintaining the internal overhead.