Topic: Decommissioning

THREE60 Energy acquires Fraser Well Management to enhance service offerings across well lifecycle

Region: All
Content Types: Report
Date: July, 2022

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THREE60 Energy, a leading independent energy service company offering complete asset life cycle solutions, has acquired Fraser Well Management, a well and pipeline operator and well management specialist, in order to strengthen its wells credentials.

THREE60 Energy will 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 life cycle, further positioning the company as a strategic services partner.

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.

All of Fraser Well Management’s personnel will transfer to the THREE60 Energy team.

Walter Thain, Group CEO at THREE60 Energy, commented, “The capabilities and expertise that Fraser Well Management has accumulated will greatly benefit the integrated solutions we offer our customers throughout the asset life cycle. 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, remarked, “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.”