US$80 million Equinor Deal Goes to Weatherford
Weatherford International Plc reported on the 30th August that it has signed an US$80 million liner-hanger frame agreement with Equinor ASA. Moreover, the oilfield services firm stated the deal is the largest such agreement in company history.
“Weatherford is the market leader for liner-hanger technology across the North Sea,” Mark Hopmann, president of Weatherford’s Completions unit, said.
“Guided by a principle of flawless execution, we deploy our liner hangers for reduced operating expenses and superior performance reliability.”
According to Weatherford, the company originally developed liner-hanging systems for deployment in the North Sea.
The firm explained the technology reduces the length of the last liner set in a well by several hundred metres, adding that it has been applied in harsh environments such as ultra-deep, high-angle and extended-reach wellbores.
“Rather than extending a single casing string to the top of the wellbore, the technology enables suspending the liner below the ground,” Weatherford stated.
“The savings are substantial versus a conventional casing run, especially considering the associated time and costs for cementing.”
Source: Rigzone