Expro Group Holdings N.V. (NYSE:XPRO) won a five-year Well Intervention and Integrity contract from TotalEnergies EP Uganda, a subsidiary of TotalEnergies SE (NYSE:TTE), for the Tilenga project.
The Tilenga project covers six fields and has over 400 wells planned across multiple pads.
The contract is worth $30 million for slickline services, with work beginning in Q2 2023 and continuing for five years.
Expro will initially support drilling activity, followed by production optimization, integrity and well workover support.
The company has designed four well-intervention units to deliver a single operational solution, which is expected to improve efficiency, and reduce equipment footprint and carbon emissions.
"Expro's solution was designed and engineered with the specific needs of this project in mind, taking into account the environmental sensitivities of the location and the need to support the project's overall environmental and social objectives. It builds on our current operations in East Africa and on many years of successful delivery on key projects in locations such as Algeria, Saudi Arabia, Mozambique and Egypt," said Iain Farley, Regional Vice President for Europe and Sub-Saharan Africa.
Last month, the company won a new contract from Harbour Energy PLC (OTC:PMOIF) for a well abandonment campaign as part of the decommissioning project in the UK Continental Shelf.
Price Action: XPRO shares closed higher by 6.81% at $18.66 on Friday.

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