READ Cased Hole (READ) has been awarded a cased hole logging contract by Hess Denmark ApS, a wholly owned subsidiary of Hess Corporation and one of the world’s leading independent oil and gas companies. The framework contract appoints READ as the preferred provider on a four year basis with one year extension option available. Building on a 17-year track record of successful operations in the region this contract further extends READ’s presence in the Danish North Sea and enhances their reputation as a leading provider of production and integrity evaluation services for complex, horizontal wells.
Earlier this year Hess announced plans to drill four production wells and begin one water-injection well in the South Arne field in Denmark, where the company holds 62% interest as operator. This further investment follows from the recently completed 1 billion USD Phase III redevelopment project to help extend the productive life from the field. READ’s combination of unique technology and diagnostic prowess deliver quantitative assessment of downhole well performance, providing Hess with valuable insights to help maximise efficiency and enable cost-effective recovery for those newly drilled wells in a field that’s been in production since 1999.
“It’s a great win for all of us at READ”, said Roy Martin, READ CEO. “We’ve been working on this opportunity for the last year and we are delighted to have such a key role in this project and be able to make a difference for Hess when it comes to production optimisation.”
READ is a Viking Venture portfolio company.
More READ Cased Hole news: