Norwegian oil and gas firm Aker BP has taken a 17% stake in reservoir stimulation technology firm Fishbones, joining Statoil as an investor in the firm.
The Fishbone concept was initially developed for a field trial at Valhall, operated by Aker BP, from 2008-2012, but was not put to use.
The technology sends 12m-long needles from the wellbore into the reservoir formation, increasing the effective wellbore drainage radius, the connectivity with any natural fractures, and the penetration through natural formation fluid flow barriers.
Aker BP says it sees a potential for substantial cost savings and potential for increased recovery by using this method. The technology will initially be applied at the Valhall field.
“Investing in Fishbones enables us to influence, adapt and fully develop the technology to increase recovery on the Norwegian Continental Shelf and beyond while also developing solutions that are fit for the Aker BP fields. We have already started developing a specialized solution to handle this soft and fine-grained reservoir In the Valhall chalk field,” comments Ole Johan Molvig, SVP Reservoir in Aker BP.
Subsequent to Aker BP investing in Fishbones, Statoil Technology Invest holds a 25% stake in the company and Freyer Holding holds 51%. Aker BP will have one seat in the Board of Directors of the company.
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