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Annual Report 2015

Offshore / Deepwater Abandonment

Overview

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Weatherford offers the broadest set of well-abandonment solutions in the industry. Further, we have a global footprint with decades of experience in this market. Over the past year, we have bolstered our capabilities in the areas of specialty rigs, project management, technologies, and heavy-lift equipment — all of which enhance the success of offshore abandonment operations. We are constantly increasing our abandonment portfolio in the interest of providing our clients with a comprehensive solution scoped and managed by a single company. We will even interface with regulatory bodies on our clients’ behalf.

Challenges

Lower abandonment costs

Reducing initial abandonment costs as well as the probability of cost escalation due to scope creep

Tackle inventory backlog

Addressing the backlog of shut-in shallow-water wells and preparing for the first generation of deepwater wells to reach the age of abandonment

Improve asset management

Standardizing competencies and practices to enhance efficiency and reduce offshore abandonment costs

Reduce project management complexity

Meeting the challenge of increasing work volumes with a single service provider

Well Abandonment Integrated Approach

Leveraging our broad portfolio of offshore abandonment tools and services alongside computer models as well as best practices developed over years of plug and abandonment (P&A) project management, our Well Abandonment Advisor solution offers a comprehensive approach. We use risk‑based software to analyze available well data, weigh risks, and suggest contingencies to ensure the job is done safely, on time and budget. These offerings, in addition to our risk‑based contract model, have made Weatherford a go‑to offshore abandonment provider for clients worldwide.

Technologies

Technology is at the heart of our approach to meeting clients’ needs. We constantly update and refine our technologies to solve new challenges encountered in the field.

Contact Us

We are here to help address your challenges and maximize production. Please contact us to be connected with a technology expert and find a solution to fit your needs.

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