Aberdeen-based Odfjell Technology Ltd has solidified is plug and abandonment (P&A) and slot recovery range with a £3mn-acquisition of McGarian TDC Ltd.
This acquisition will advance Odfjell’s Well Services division, and add to the company's 20 years of experience in designing whipstocks, casing and packer milling, fishing and remedial products.
Representing as much as 45% of an asset’s decommissioning costs, the P&A market is at a dynamic stage right now.
Odfjell Technology boasts of a completely integrated service for P&A campaigns using innovative operational models for the challenges of different well constructions, varying downhole geologies and adjacent infrastructure.
Focus on safety and environmental security
Odfjell Technology AS CEO Simen Lieungh said, “We are delighted to welcome McGarian TDC Ltd to the Odfjell Technology family. Their engineering and product design capability perfectly complements our existing competencies.
“P&A represents a significant investment for our customers involved in of end-of-life operations. Our aim has always been to provide an efficient service with a focus on safety and environmental security – this strategic acquisition enables us to further strengthen that commitment to our customers.”
Bruce McGarian, Owner of McGarian TDC Ltd, added, “Joining forces with Odfjell Technology presents an exciting opportunity for us to leverage our expertise on a larger scale.”
