Titan Torque secures Falklands deal
Oilfield equipment specialist Titan Torque Services has secured a six-figure contract to provide support services for exploration work off the Falkland Islands in the South Atlantic.
It has signed a one-year deal with well management company AGR Petroleum Services to provide torquing facilities in support of the operation of the drilling rig Ocean Guardian.
Aberdeen-based Titan Torque is to set up an operational unit in the Falklands to be the focal point of its service delivery.
The Ocean Guardian is working on behalf of Desire Petroleum and Rockhopper Exploration.
“This is a very exciting development for us, illustrating our capabilities to deliver for clients on a global basis,” says Titan Torque managing director Keith Gaskin.
“Our market offerings are based on the principles of creating a safer working environment and increasing rig efficiency. The benefits of our service are increasingly being recognised across our industry”.
Bruce Jepp, Titan Torque business development director, said: “We are delighted to be supporting a highly-respected company such as AGR and look forward to building a relationship with one of the leading service providers in the global offshore industry.”
The contract, valued at approximately £400,000 for the year and featuring extension options, will see Titan equipment shipped to the Falklands later this month and a company team put in place to set up the facility.
Titan will provide torquing services alongside specialist ancillary equipment and customised crane and transportation facilities.
The contract will also involve the deployment of Titan’s innovative drill bit protector, which facilitates onshore drilling bottomhole assembly and encases the drill bit during transportation offshore, enhancing safety and efficiency during transportation and offshore deployment.
The award is the latest in a series of contract wins for Titan, which has included a three-year deal to support the UK North Sea operations of Premier Oil.
Titan’s service portfolio is focused upon pre-made drilling assemblies and innovative drill bit protection equipment.
The specially designed Protector saw the company win the Wood Group Award for Innovation at the 2010 Grampian Awards for Business Enterprise.
The company has gone on to develop its Push Pull Unit. The innovation has been specially designed to insert the running tool in a process that is more controlled and measurable than existing industry techniques.