READ Wins Multimillion Maersk Oil Contract

Published at 07:03PM - 13/11/15

Offshore oil and gas well specialists, READ Cased Hole, have announced a multimillion pound contract win from Maersk Oil.

The Aberdeen based firm announced the news, say that the contract was for a duration of five years with an optional three year extension penciled in, although READ haven’t given an exact figure to the value of the contract.

The contract will see READ supply Maersk Oil with cased hole logging services, from well integrity to production evaluation, throughout Maersk Oil’s assets in the Danish sector of the North Sea.

READ CEO, Roy Martin, said:  “The new contract win is a testimony to our 17 year-strong and successful relationship with Maersk.

“This contract puts READ on the track to working with Maersk for a quarter of a century and the results of this collaboration show that optimisation and effectiveness is more than just an industry trend during tough times, but a sustainable practice with tangible results.”

Maersk Denmark

Danish based Maersk Oil, acts as operator of 15 oil and gas fields throughout the Danish sector of the North Sea. 

Maersk has recently expanded its operations in the Tyra Southeast field, located 220 km (137 mi) offshore west Denmark. The expansions executed to net the firm around an extra 50 million barrels of oil.