Neodrill Eyes US and Mexico Opportunities

Tuesday, August 27, 2019

Norway-based offshore services company and provider of drilling technology products Neodrill announced it is bringing its Conductor Anchor Node (CAN) technology to the US and Mexico.

To support this effort, the company has hired Tony Smith in the newly created role of business development manager for the region.

Smith, a business development expert with over 40 years of experience in the oil and gas sector, began his career with Shell in the UK, and has worked with Schlumberger as Vice President of Sales for the Completions Segment. Throughout his career he has overseen the launch of several new product development technologies for both Smith International and Schlumberger.

Neodrill, which is in the midst of one of its most active years to date, said its technology is relevant to both exploration and production wells in the Gulf of Mexico. The firm estimates the market for its technology in the US and Mexico is over $10 million per year.

Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “The Gulf of Mexico has the potential to be a game changer for Neodrill due to the large number of infill wells that can benefit from CAN-integrator in the coming years.

“This year . . . our technology has been applied for the first time under a number of different conditions such as sand only wells. Continuously understanding new applications is important for us, as it allows us to bring new solutions to operators and offshore service companies,” Aleksandersen said.

By providing a greener, smarter and safer well foundation, the technology addresses issues such as well verticality, load capacity and fatigue management. The technology is particularly applicable in areas, such as the Gulf of Mexico, where you have difficult seabed conditions relating to the lateral or vertical bearing capacity. Recent studies indicate the CAN-integrator delivers a saving of up to 20% on field development and infill wells. It achieves this by enabling marine and SURF operations to be carried out prior to rig arrival. This process saves costs, reduces project execution time and facilitates early production.

A recent Lifecycle Assessment found that the environmental impact of the CAN-ductor is between 21-44% less than that of a conventionally drilled well.

Categories: Industry News People North America Technology Completions Drilling

Related Stories

Talos Energy, TechnipFMC Working on CCS Solutions for U.S. Market

Northern Drilling Cancels Another Drillship Order with DSME

Autonomous Future: Ocean Infinity Buys Red Rock

Current News

Regulator Lays Charges Over 2018 Canada Oil Spill

Philippines Defends Malampaya Gas Deal with Duterte's Ally after Graft Complaint

Factbox: UK's Key Pledges in Net Zero Plan

UK Sets Out Net Zero Strategy. Plans to Install 40 GW Offshore Wind Power by 2030

Subscribe for OE Digital E‑News