Beacon Offshore hires Claxton for Thailand decommissioning work – News for the Oil and Gas Sector – Energy Voice

Claxton, the lead brand of UK-based Acteons drilling and decommissioning business segment, has signed a master services agreement with Thailand-based Beacon Offshore for the severance and recovery of more than 100 subsea wells in the Gulf of Thailand.

The relationship with Beacon Offshore is a milestone for long-term collaboration in the region which was underpinned by significant effort and commitment by all parties. We are very excited about this project as it highlights Claxtons rigless P&A capabilities and reflects the expertise of Claxton as a trusted partner in vessel-based decommissioning, said Claxton chief executive Sam Hanton.

Decommissioning Southeast Asias ageing oilfields offers a vast but challenging market opportunity. More than 200 offshore fields are expected to stop producing in Southeast Asia by 2030 with total decommissioning costs estimated to range from $30 billion to as much as $100 billion.

Indeed, the potential market opportunity in Southeast Asia could be huge with more than 1500 platforms and over 7000 wells projected to need decommissioning by 2030.

See the article here:

Beacon Offshore hires Claxton for Thailand decommissioning work - News for the Oil and Gas Sector - Energy Voice