THREE60 Energy acquires Fraser Well Management

THREE60 Energy, a leading independent energy service company offering complete asset life cycle solutions, has acquired well and pipeline operator and well management specialist, Fraser Well Management, broadening and strengthening the company’s wells credentials.

The acquisition leads THREE60 Energy to become one of only two companies that can undertake the role as outsourced duty holder (installation operator), pipeline operator and well operator across the asset lifecycle, further positioning the company as a strategic services partner.

Coming into effect from 1 July 2022, all of Fraser Well Management’s personnel will transfer to the THREE60 Energy team. The companies three offices, located in Aberdeen, Great Yarmouth and Rotterdam, will remain in operation under THREE60 Energy.

Fraser Well Management’s services span the complete well lifecycle, both onshore and offshore, with comprehensive end-to-end well and pipeline operator solutions provided to customers across the world. The company also provides well management, decommissioning, specialist engineering, and commercial services, with sustainability as a key operational consideration.

Walter Thain, Group CEO at THREE60 Energy, said: “The capabilities and expertise that Fraser Well Management has accumulated will greatly benefit the integrated solutions we offer our customers throughout the asset lifecycle. We are immensely proud to have our new team members join THREE60 Energy, as we can continue to provide better energy together.

“As we continue to transition into sustainable and renewable energies alongside traditional means of energy production and storage, there has never been a more pertinent time to invest in the future of our business and our place in the energy supply chain.”

Lasse Hermansson, Managing Director at THREE60 Energy Norway, added: “The breadth of transferrable knowledge across THREE60 Energy is crucial for capitalising on the synergies across disciplines, and the addition of Fraser Well Management’s skills and people will greatly add to our expertise.

“This not only enhances our UK capabilities, but provides additional competencies and services to our Norwegian and global business. We are extremely excited about the acquisition and see a great cultural and collaborative fit with the excellent team at Fraser Well Management.”

Nick Ford, Managing Director at Fraser Well Management said: “We have watched the rapid and sustained growth of THREE60 Energy alongside our own development and can see the synergies that the integration of Fraser Well Management’s service offerings combined with that currently provided by THREE60 Energy will provide our clients better solutions to their energy needs. This deal is a natural progression for our services and people, as both can continue to grow and expand under THREE60 Energy.

“As late life, CCUS and decommissioning play an ever more significant role, we are proud to be part of THREE60 Energy Group as the company delivers in these key areas.”

THREE60 Energy provides subsurface, wells, EPCC and operations services throughout the asset lifecycle, with offices in Aberdeen, Bergen, Stavanger, Oslo, Kuala Lumpur, Singapore, Jakarta, Taipei and Brisbane.

ENDS

For further information please contact:

Amy Guyan, Senior Communication Advisor, Aspect: The Strategic Communication Experts

amy.guyan@aspectreputation.com // +44 (0)7735 892413

Notes to editors:

About THREE60 Energy –

THREE60 Energy consists of four main service lines;

Subsurface

Its subsurface service line is a leading provider in the North Sea, Asia, Australia and across Europe, delivering over 250 projects within 10 years, for over 100 of the world’s oil operators.

Its subsurface team provides solutions in the fields of Geomechanics, Reservoir Engineering, Geo-Operations, Reservoir & Well Enhancement and Subsurface Consultancy to operations across its geographies.

The team has developed its own subsurface digital technology, Poseidon. This pioneering Locate the Remaining oil (LTRO) software reduces the time taken to crunch complex reservoir data from approximately six months to just six weeks, and effectively locates remaining moveable oil in place in mature fields. More recently the team has developed its own production engineering digital technology, Titan. This intuitive, user-friendly, digital platform efficiently delivers the full scope of production engineering services, ultimately increasing production at lower costs.

The Operations Geoscience team have been successfully delivering Client Service Representatives (CSRs) to the global offshore wind sector for many years. This service has been exported from SE Asia to Europe with multiple operations being completed to date and increased activity currently being seen in both regions. The company’s new REMORA software package is currently being tested that will allow multiple operations to be assessed simultaneously and remotely from the worksite.

Wells

The wells team are actively involved in assisting customers with their digital transformation strategies with fully executable plans now being realised.

The team have active associations that couple academia, in both Norway and the USA, with the geothermal energy industry aligning with the company’s diversification of technical resourcing and energy transition strategy. Furthermore, supporting the UK polyhalite mining industry with technical drilling support for existing and new deepcast mining strategies.

Engineering, Procurement, Construction & Commissioning (EPCC)

This service line delivers engineering studies and brownfield engineering services through world-leading technical expertise and technology. By adopting smart workflows and the latest technology, it embraces challenge at every stage of the process, sourcing and developing the most effective solutions. This service line delivers at all stages of the EPCC process, from the conceptual engineering through detailed engineering design, analysis of projects and their viability, procuring all equipment and materials, and the construction and modifications that deliver a functioning facility or asset to clients.

Through its established track record of intelligent engineering, identifying and delivering emission reduction scopes and its sustainability advisory service, THREE60 Energy supports the renewable energy industry, including carbon capture and storage, offshore wind, electrification and hydrogen projects. 

Operations Management

The Operations Management service line was organically set up by ex-tier 1 operations service business leaders with the aim of creating a tier 2 operations service business. The company safely delivers to new entrants, independent E&P operators and late life asset owners having developed a track-record of executing O&M, duty holder and integrated service contracts with innovative commercial delivery models. The company supports all elements of the asset life cycle from producing assets through to decommissioning.

Find out more here: www.three60energy.com