Qserv

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Qserv Ltd.
FateAcquired by Aker Solutions, then EQT Partners
FoundedNovember 2001;17 years ago (2001-11)
FounderTommy Dreelan
DefunctJuly 4, 2008;11 years ago (2008-07-04)
Headquarters Portlethen, Aberdeen

Qserv Ltd. specialised in oil-well services operations, including slickline, coiled tubing and pumping services. In July 2008, the company was acquired by Aker Solutions and it was acquired by EQT Partners in 2013.

Slickline refers to a single strand wire which is used to run tools into wellbore for several purposes. It is used in the oil and gas industry, but also describes that niche of the industry that involves using a slickline truck or doing a slickline job.

Coiled tubing

In the oil and gas industries, coiled tubing refers to a very long metal pipe, normally 1 to 3.25 in in diameter which is supplied spooled on a large reel. It is used for interventions in oil and gas wells and sometimes as production tubing in depleted gas wells. Coiled tubing is often used to carry out operations similar to wirelining. The main benefits over wireline are the ability to pump chemicals through the coil and the ability to push it into the hole rather than relying on gravity. Pumping can be fairly self-contained, almost a closed system, since the tube is continuous instead of jointed pipe. For offshore operations, the 'footprint' for a coiled tubing operation is generally larger than a wireline spread, which can limit the number of installations where coiled tubing can be performed and make the operation more costly. A coiled tubing operation is normally performed through the drilling derrick on the oil platform, which is used to support the surface equipment, although on platforms with no drilling facilities a self-supporting tower can be used instead. For coiled tubing operations on sub-sea wells a mobile offshore drilling unit (MODU) e.g. semi-submersible, drillship etc. has to be utilized to support all the surface equipment and personnel, whereas wireline can be carried out from a smaller and cheaper intervention vessel. Onshore, they can be run using smaller service rigs, and for light operations a mobile self-contained coiled tubing rig can be used.

Aker Solutions ASA, an engineering company based in Oslo, provides the products, systems and services required to unlock energy from sources such as oil, gas and offshore wind. The company, founded in 1841, was known as Aker Kværner until 2008.

The company was named after its focus of "Quality Service".

History

The company was founded in November 2001 by Tommy Dreelan. [1]

In 2004, the company was awarded a contract by ExxonMobil. [2]

ExxonMobil

Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil Company, and was formed on November 30, 1999 by the merger of Exxon and Mobil. ExxonMobil's primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical.

In March 2005, it was awarded a 5-year well service contract by BP. [3]

BP British multinational oil and gas company

BP plc is a British multinational oil and gas company headquartered in London, United Kingdom. It is one of the world's seven oil and gas "supermajors", whose performance in 2012 made it the world's sixth-largest oil and gas company, the sixth-largest energy company by market capitalization and the company with the world's 12th-largest revenue (turnover). It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy interests in biofuels, wind power. and solar technology.

In 2005, for the 3rd year in a row, the company won the International Safety Award from the British Safety Council. [4]

The British Safety Council, a Registered Charity founded by James Tye in 1957, is one of the world's leading Health and Safety organisations alongside the likes of IOSH & IIRSM unlike these the Council's members are mostly companies. Safety Practitioners the world over use the services and training they provide.The London based charity provides training in over 50 countries.

In July 2006, it acquired the coiled-tubing unit of Weatherford International. [5]

Weatherford International Irish energy company

Weatherford International plc, an Irish-domiciled company, is one of the largest multinational oil and natural gas service companies. The company provides products and services for drilling, evaluation, completion, production and intervention of oil and natural gas wells, along with pipeline construction and commissioning. Headquartered in Baar, Switzerland, Weatherford operates in more than 100 countries across the globe and employs more than 35,000 people (2016).

In December 2006, it acquired the wireline and well-service division of KCA DEUTAG. [6]

In July 2008, the company was acquired by Aker Solutions for $198 million and was renamed Aker Qserv. [7] [8] [1]

In 2013, Aker Solutions sold its entire well-intervention division, including Qserv, to EQT Partners for £400 million. [9]

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Helix Energy Solutions Inc., known as Cal Dive International prior to 2006, is an American oil and gas services company headquartered in Houston, Texas. The company is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. Helix provides services primarily in deepwater in the Gulf of Mexico, Brazil, North Sea, Asia Pacific and West Africa regions. Our “life of field” services are segregated into three reportable business segments: Well Intervention, Robotics and Production Facilities

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References

  1. 1 2 "Aker Solutions boosts its well service business through acquisition of Qserv" (Press release). Globe Newswire. 4 July 2008.
  2. "QSERV Secures Contract With ExxonMobil". RigZone. 20 July 2004.
  3. "BP Awards Well Services Contract To Qserv". RigZone. 14 March 2005.
  4. "Qserv Scoops Top Safety Award for Third Year Running". RigZone. 2 June 2006.
  5. "QSERV Acquires Weatherford Coil Tubing Business". RigZone. 3 July 2006.
  6. "Qserv Acquires KCA Deutag's Wireline Operations". RigZone. 18 December 2006.
  7. Stoltz, Aasa Christine (4 July 2008). "Aker Solutions acquires Qserv for $198 mln". Reuters .
  8. "Aker Grabs Qserv Shares, Boosts Well Service Business". RigZone. 7 July 2008.
  9. Findlay, Keith (23 November 2013). "£400million deal to buy Aker well division". The Press and Journal .