The exclusive partnership enables easier access to downhole technologies from both companies to deliver major cost and time efficiencies to the global P&A sector. As part of the agreement, Ardyne’s US team of five people will transfer to Dynasty.
The alliance broadens Dynasty’s market offering in the Western Hemisphere, while also enhancing Ardyne’s technology offering in the North Sea and wider Eastern Hemisphere. It also allows for increased efficiencies for clients in both Western and Eastern Hemisphere markets.
Alan Fairweather, CEO of Ardyne, said: “The future of many oil and gas supply chain companies will depend on their ability to adapt to market conditions and to continue identifying opportunities to improve their offering by creating greater operational efficiencies.
“Our strategic alliance with Dynasty is not only exciting for Ardyne, it also presents a model for other companies of a similar size to strengthen their existing technology portfolio and deliver a more robust global offering to clients.”
Rystad Energy has estimated the global decommissioning market will reach £34.5 billion by 2024, and more than 2500 wells will be decommissioned in the North Sea alone in the next decade.
Fairweather continued: “Forecasts for the decommissioning market are healthy but to maximise these opportunities will require greater innovation in technology and service provision. The exclusive partnership between Ardyne and Dynasty answers the need for a truly world-class full service fishing, milling and casing recovery offering for the global P&A sector.
“It reaffirms our ongoing commitment to the North Sea well-decom efficiency tool kit and opens our business up to greater opportunities in the locations where Dynasty is already established, including the Gulf of Mexico and US land.
Keith Alexander – Executive VP and Chief Operations Officer of Dynasty Energy Services, said: “Under the partnership agreement, we will supply Ardyne’s technologies to support our services in the Western Hemisphere while Ardyne will supply our products along with their own in the Eastern Hemisphere.
“Combining our technologies to establish a stronger, holistic offering represents a win-win for both companies. However, the ultimate winners are the clients who will benefit from easier access to our products to help them achieve greater P&A efficiencies.”
Read the latest issue of Oilfield Technology in full for free: Issue 1 2021
Oilfield Technology’s first issue of 2021 begins with a look at US tight oil’s prospects this year. The issue then moves on to cover completions technology, production forecasting, electric fracturing, sand recovery and more.
Exclusive contributions come from Rystad Energy, Archer, Weatherford, Halliburton, CGG, NOV, TETRA Technologies, Clariant and more.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/27042021/ardyne-and-dynasty-energy-services-form-strategic-alliance/
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