Region: Australia
Content Types: Report
Date: Jan, 2024

The Helix Q7000 out at sea.

Cooper Energy Limited, an exploration and production company, has announced that the Helix Q7000 vessel has commenced work on the first well of the Basker Manta Gummy (BMG) decommissioning programme.

Although the company admitted that progress has been slower than anticipated, it is now making headway on the project with the Helix Q7000 – a purpose-built DP3 semisubmersible vessel from Helix Energy Solutions – now commencing work on the Basker-3 well after initially arriving late to the BMG field. The late arrival of the vessel resulted in Cooper Energy incurring more than three months of holding costs for the remaining contractor spread on the BMG programme and, in addition, more time was required during start-up activities due to factors such as loading of equipment and integration of the Integrated Riser System (IRS).

While Cooper Energy does not anticipate the start-up delays to impact the remainder of the project, the slow progress means re-forecasting of the programme for the remaining six BMG wells is required. As a result of this, the company has revised its mid-case cost estimate for the BMG decommissioning from AUS$193-198mn to approximately AUS$240-280mn. In order to keep this as low as possible, the company has indicated it will be applying learnings from the Basker-3 decommissioning work to the remaining wells. In addition, where possible, Cooper Energy and its contractors will aim to simplify the scope of decommissioning.

While the focus remains on executing the decommissioning programme safely and within the minimum time possible, the company has indicated there are certain risks retaining, including variables outside of the company’s control that could increase the total cost of the decommissioning programme.

Previously, the Helix Q7000 was at work offshore in New Zealand, conducting a decommissioning campaign on the Tui oil field. Click here to learn more.