Oil & Gas Summit: Jørgen Hallundbæk in panel debate

Recently, oil and gas professionals, government officials and leaders of major oil companies participated at Oil Gas Denmark’s Oil & Gas Summit 2015. Founder and CEO of Welltec, Jørgen Hallundbæk, participated in a panel debate where he emphasized that the technology to maximize oil recovery is here and that opportunities are prolific.

CONTACT

VP Marketing
Brian Sidle
bsidle@welltec.com

‘Here in the North Sea, the upstream industry faces some big challenges. None are more prevalent than having to adjust from a US$100/barrel world to the current price environment. So is there any good news coming from the North Sea?’

This was the discussion invitation and outset for yesterday’s summit, which sought to examine the challenges and possibilities in the current climate. In recent years a decline in production, ageing facilities and increasing operational costs have been the reality for most of the oil and gas sector in the North Sea, causing serious market adjustments.

But despite the current downturn and the various challenges facing the sector which have forced companies across the globe to reduce costs to levels that match the current situation, Jørgen Hallundbæk highlighted that the technology to increase recovery rates is available. Operators can work with reductions in CAPEX to their budgets and still produce oil in a safe and cost effective manner. They just need to be more receptive to some of the available technology around them.

“Some operators have taken this downturn as an opportunity to open their doors and question if there are ways they can change their business models and their approaches to reservoir drainage, resulting in a collaborative environment with us as a service provider. Today with a lot of companies being cash-flow negative, they are truly willing to listen to something they have not done before”, said Jørgen Hallundbæk.

It is widely known that Norway has high recovery rates and is skilled at draining their reservoirs. But why has Norway been so much better at applying new technology? inquired the moderator.  

“At the time we came about in Norway, they were facing a low oil price, mature assets and declining oil production. Something had to be done. They had infrastructure in place which they could exploit if they could reach further out, hence allowing them to extract more oil. Back then, their recovery factor was just getting close to 30% percent and now, primarily because of their technology approach, they are well above 50% percent”, said Jørgen Hallundbæk, who for more than two decades have partnered with Statoil in Norway.

The conference took place in Copenhagen on October 21st at DR Koncerthuset and was hosted by Oil Gas Denmark – a trade organization for all companies in the upstream oil and gas production sector.

Watch the panel debate

 

 

Photo: Hans Søndergaard


Welltec® sees increased demand for services as operators shift focus

International oil and gas industry solutions provider, Welltec®, has reported a marked increase in demand for its services in the North Sea as operators scale down drilling operations. The company, which is headquartered in Denmark and has bases globally, says a reduction in investment in new wells in the the North Sea has resulted in resources being redirected towards enhancing oil recovery from existing wells.

CONTACT

VP Intervention
Christian Krüger
ckruger@welltec.com

Welltec® explains the low price of oil has resulted in a rise in requests for the company’s groundbreaking intervention services.

In real terms, this has equated to a 47% rise in intervention work over the 4 year period from 2012 to 2015 with firms making use of the vast range of technology in the Welltec® portfolio.

NorthSeaActivityVsOilprice-03

In particular, the oil price plunge in 2015, down 50% compared to 2012, has driven the increased demand for intervention services. This is a development that corresponds with operators’ trend of cutting capital expenditures such as drilling activities, and shifting focus towards intervention – a trend recently documented by a leading oil and gas consultancy agency.

Welltec’ s innovative solutions are designed to increase oil recovery and activate deferred production while at the same time reducing lifting costs, allowing operators to get the best results in the current climate.

Christian Krüger, vice president of intervention at Welltec® said: “This new development is a necessary reaction from the industry and shows that the current downturn has prompted operators to search for new strategies to maintain or increase production.

“In the light of the current low oil price, we are seeing operators focus on protecting and optimising their existing assets and our solutions are designed to increase recovery while at the same time reduce lifting costs, allowing our customers to maintain positive cash flow.

“Just as other industry downturns historically have prompted innovation, the current downturn in the oil and gas industry opens up new possibilities and a chance for the industry to change its mindset, which presents a golden opportunity for companies which can offer an effective, lower cost alternative.”

Welltec® has a range of intervention solutions available to clients, aimed at maximising oil recovery from existing wells – extending the lifespan of fields and at a much lower cost than fresh drilling.

The solution portfolio include include mechanical, milling, clean-out and conveyance services, which provide clients in the North Sea and globally with efficient methods of intervention to keep production up and costs down.

The press release has been published on: 
Aberdeen Business News
Your Oil and Gas News
Oil Voice


Welltec wins ‘best stand’ at KIOGE

We did it in 2011, again in 2012, anew in 2014, and now, in 2015, we have received yet another design award for ‘best stand’, this time at KIOGE in Kazakhstan.

CONTACT

VP Marketing
Brian Sidle
bsidle@welltec.com

The award-winning stand at KIOGE (Kazakhstan International Oil and Gas Exhibition and Conference) is custom designed and built up around a powerful visual concept. In a simple and straight-forward manner, it communicates several Welltec intervention and completion solutions, and, in particular, the value operators can gain from them.

With live demonstrations of Well Tractors®, Well Strokers®,  Well Millers® and various videos and animations illustrating complex operations in a simple way, the stand invited the clients attending the exhibition to engage with the people as well as the tools at hand.

KIOGE took place from October 6-9 and is one of Kazakhstan’s most established and best attended oil and gas trade events. The exhibition and conference is a meeting place for both oil and gas professionals, government officials and leaders of major commercial companies.

In 2011, Welltec won the best stand award at SPE Bergen followed by a similar award at one of the industry’s biggest events, Offshore North Sea, in Stavanger in 2012. 2014 saw an award for best stand at APPEA in Australia

A big thanks to the exhibition team and our colleagues in Kazakhstan for a great stand and exhibition.


Documented right down to the smallest detail

The new Transformation Center in Denmark, which manufactures the award-winning completion product, the Welltec® Annular Barrier, is now celebrating its one-year anniversary. Facility manager, Vagn Nielsen, takes stock and unveils a state-of-the-art quality system.

CONTACT

Vagn Nielsen
Facility Manager
+45 8841 8501

It has been 12 months since the new Transformation Center opened. How have the past months been?

Things have gone very well and the production is up and running. Currently we are working on orders for some major operators from the Western as well as Eastern hemispheres. And we have already delivered many products for the North Sea and the Middle East.  All deployments have been exclusively successful.

And the employees are fantastic. They will stand shoulder to shoulder with each other to continue making this a success. The atmosphere is good, and people are great at cooperating and helping each other.

 

Complete traceability

You mention state-of-the-art manufacturing quality, what has been implemented?

Yes, indeed. It has been an exciting and successful process, where we have established and configured procedures in a way that matches our needs.

For example, we have integrated complete traceability into the new facility giving us and our customers full control of all applied material. All the way down to the individual piece of raw material that is used to create the smallest parts, from cradle to grave. We can simply control and ensure the highest quality on every single piece that is a part of our delivered products.

You almost go to extremes with traceability. Why is that?

There are several aspects to it. But the main reason is that the Welltec® Annular Barriers (WAB®) are new technology; steel that gets expanded. And once a WAB® has been expanded and set, you can’t just replace it with a new one, it’s permanent. Therefore it’s paramount that the products perform as required, which is why we ensure that every single WAB® is of the highest quality. The tracking and monitoring is one of many aspects that help us guarantee reliability.

 

Full transparency

Looking back the past 12 months, what are you most proud of?

Our clients’ reception of what we have done, that is for sure one of the successes.

But also, the results from establishing good processes. For example, our welding procedures where we operate with a bar code system, everything has to be scanned in every step of the way and if something doesn’t match, the work can’t be done. This ensures that all bits, people and materials meet the criteria established for the highest quality product – criteria that we require to be met before we even begin welding.

In addition, the extra feature we’ve created, where clients can follow the entire process through a live video camera. In this way, they can get fully acquainted with the processes as it is carried out as well as seeing where the quality data comes from during the welding.

Clients can monitor visually the welding and by personal remote-inspection ascertain that we are adhering to the required limits.

Why is this relevant to the customers?

The fact that we work with full transparency around our production has been received very well. It gives clients confidence in our quality processes, evidence that we don’t at any level compromise the quality of their product.

Also, we often have clients who travel from the other side of the globe to inspect the manufacturing. Now this can be done without the physical presence which both saves time and flight tickets and creates a much leaner manufacturing process.

 

More like a laboratory

What other highlights has there been during the past 12 months?  

Our facility in general, the high degree of tidiness and orderliness, has been received with great respect. This should be common throughout the oil and gas industry, one could say, but from the feedback we’ve received I think we’ve raised the bar here as well.

From the very beginning, Welltec’s approach has been that you cannot create quality products in a mess. That goes for all our production facilities and production machinery: they all have to be entirely top notch. This is clearly reflected on our premises, which are bright, friendly and clean – you could say more like a laboratory than a manufacturing plant.

The new facility is called a “Transformation Center”. What is meant by that?

It’s a place where you contribute to not just changing things, but changing things radically and setting a new standard for our industry. We feel the products we make can do just that.

And products that make big changes like this can’t be left to uncertainty during manufacturing.  They are produced under optimal conditions for creating quality work that meets the high quality demands of the industry. At the end of the day, this is what makes the transformation possible and why we call it a Transformation Center.

VAGN NIELSEN

Vagn has extensive experience in building up and managing new business units. Starting out as Quality Manager at Danfoss in Denmark, he later changed to the wind sector working for both NordTank (later named Micon/Vestas) and Nordex. Before joining Welltec, Vagn was employed at AH Industries and was responsible for establishing a new sales division in the United States. Today, Vagn heads the daily operation and phasing in of new procedures in the Esbjerg facility.


European award program celebrates Welltec for innovation and excellence

The largest business awards program in Europe, European Business Awards 2015/2016, announces Welltec as a National Champion.

CONTACT

VP Marketing
Brian Sidle
bsidle@welltec.com

The European Business Awards is an independent European awards programme that celebrates innovation and excellence, aiming to draw attention to Europe’s best businesses and what they are doing.

In this first stage of the competition, judges have selected the best 33 companies, the National Champions, from thousands of entries. The second judging phase will begin in December 2015.

Adrian Tripp, CEO of the European Business Awards says, “Now, more than ever … we need brave enterprising businesses who invest in innovation and excellence to lead the way”,

and he continues to state that the programme “is an opportunity for Europe’s brightest businesses to gain the recognition they deserve on a global stage”.

We are very proud to have received this honour, and are humble to compete with the best and most succesful companies from across Europe.

Read more about European Business Awards


Rethink your completion strategy

New technology addresses two of the industry’s biggest challenges; cementing and sustained surface annular pressure. A specialist in completion technology, Johnny Bårdsen encourages operators to rethink and apply a more holistic approach considering the entire life-of-the-well during the planning phase.

CONTACT

Johnny Bårdsen
Sales Director for Well Completion Solutions in Scandinavia
+47 51 64 06 50

It has been said that the Welltec® Annular Barrier (WAB®) can revolutionize the industry. How is that?

The WAB can simply eliminate the need for cement. Likely, this is the most revolutionary thing you can do in today’s oil and gas industry. Cement has been around from day one. But today the operators are basically saying that a least 40% – 50% percent of the wells that uses cement as the primary barrier have challenges with sustained annular pressure (SAP).

Typically, this is due to the pressure / temp cycle of cement. Over time it becomes brittle. Channels are then created in the cement, which the pressures and the accompanying HC’s (gas) can migrate between zones or come back up to surface.

 

Well integrity: A cementless barrier

The WAB can be applied as a cementless primary barrier. Will the industry embrace this new piece of technology?

Yes, I believe so. It has been run as such already, following the ISO14310 V0 leak criteria qualification. While developing the product we saw that the WAB could also support well integrity applications. As I see it, it is a really disruptive change in the industry. It’s simply a fundamental change.

We take a reliable, mechanical solution, that is engineered for the specific well application and verify it as a barrier. It will likely change the industry’s thinking about using a complex fluid/cement solution to run the barrier envelope in the well, in the construction phase.

You can now construct and complete your wells for a barrier that is designed for your well in the construction phase, which can function effectively throughout the operational phase . And it can also be an enabler for an easier or a planned P&A operation.

Can you clarify?

By positioning the WABs in the correct place in the open hole, you will have a pressure barrier for your P&A operations.  You do not to have to challenge yourself anymore to guess reservoir pressures from surface, faced with the uncertainty of whether or not your downhole barriers are ‘leaky’.

 

Avoid expensive surface control equipment

In what ways do you think the industry can improve its procedures?

Today, I think a big challenge is the enormous complexity of the wells. Also, the kind of information that the operators think they need for the production phase of the life.

Let me clarify. Today operators complete these wells with all kinds of surface control equipment on the well. As soon as any of this surface control equipment fails, you either have to live without the information or you have to recomplete the wells, because it’s part of the completion.

Another tendency is that a lot of engineers within the industry think they are really dependent on this information at surface – in order to be able to act on the production profiles of the wells. However, in real life, a lot of the time, many are so afraid of actually operating these solutions that they basically end up just monitoring them.

But why are they so careful? 

Because the equipment keeps failing after a time. Also, by including all these components in the well you also complicate the plug and abandonment side of the well. You have all the control ends. You have all the components that you put down the well, and you have to capture coming back out, to try and plug and abandon the well.

 

Optimize with low-risk interventions

What would be a better and more cost-efficient approach?

Go back to the beginning where you construct and complete the wells.  A completion concept, in which you have a reliable, mechanical barrier as the main component, is much simpler but yet with the capability of zonal isolation and inflow control (edt. Read about zonal isolation and inflow control in the second part of the interview). This can be accomplished by the use of intervention methods instead of working with control line. This is an efficient way to significantly reduce the initial cost of the well. At the same time it enables the well to be maintained by interventions, and with intervention equipment that doesn’t have to be reconstructed to fit these over-complex wells.

In the end, if you want to optimize the well through the life, you have to do some intervention.  So why don’t you construct the wells with a much more robust and easy solution to actually run and to maintain the well? And you now have a solution you can actually compare to time for running it, setting it up, and getting it down there.

What I mean is, that if you’re running a full-bore solution, you have access with all your intervention tools. You can optimize, you can do clean-outs, you can maintain the production flow clean, and you’re actually able to do the work that is needed. You don’t have to design specific intervention tools to go through a valve or a pick-up scenario, which is not in the design in the first place. Now you have a well that is designed for maintaining and being optimized for intervention in the future.

 

Full-bore, optimized for maintaining the well

So it’s basically a matter of increasing recovery?

Exactly. And maintaining a life-of-well concept on the wells. Compared to the smart well solutions and intelligent well solutions, which are typically very costly with surface control, this Flex-Well® concept offers a much simpler solution with greater potential.

My point is, if you have to do anything intervention-wise, for example, if this well starts to produce sand or scale it’s a challenging intervention job to perform. So instead, why don’t you go back and put the finger in the ground and say: okay, we will have sand, we will have scale; we need to optimize this well; we need to intervene this well at some point!

With the Flex-Well® solution we will have a well flow valves solution that is full-bore, optimized for maintaining the well of life and potentially also to go down there, clean out the well or position plugs, or isolate the valves by closing the sleeves etc. You will maintain an optimized well for the life of the well and you won’t have to do all the particularly challenging intervention work. Instead, you will reduce the risk of intervention work significantly because you have optimized the well for that, already in the construction phase.

 

Data: Back up your decision-making base

How can you monitor the well?

The data monitoring is basically a solution that you can download with the intervention tools. When operators know their reservoirs and production profiles, they will see if anything  changes at surface. Based on that you can order an intervention job to do some sort of investigation. During the investigation you can download the pressure and temperature profile of the well external to the completion and then act on it. If you compare this to the intelligent wells today, with this information potentially available at surface, you won’t be able to operate, for example, the downhole valves, because they are scaled up or you have lost communication to the valves, etc. You would still have to mobilize intervention, but then it is a challenging intervention job, because you have all the restrictions and problems in the well.

Instead, by looking at the life-of-well concept again, i.e. the Flex-Well® concept, you’ll have full bore, you’ll have set up the well for future potential intervention and optimizing the well. Also, you’ll have zonal isolation, you’ll have inflow control, and you have the data to back up your decision making base for how you’ll act on the challenges in the well.  Finally, you can intervene and fix without having to recomplete the well. And again, you are also prepared for the permanent P&A of the reservoir. You don’t have to be facing bad cement jobs that need to be fixed up. You can basically just go ahead, plug back, isolate, go back to the next part you have to isolate and then go from there.

So all in all, you are set for life. You just need to take a decision to reconfigure, to rethink a little bit, and see the benefits of constructing your wells in a way that enable interventions to optimize the well if needed.

JOHNNY BÅRDSEN

Johnny has extensive experience within the oil and gas industry. Among others, he has worked several years for Baker Hughes and Statoil before joining Welltec in 2012 as Sales director for Well Completion Solutions in Scandinavia. Recently, Johnny won the Best Presentation Award at SPE Bergen, focusing on the WAB® and the Flex-Well® concept.


Interim Report Q2 – 2015

Company announcement no.8/2015:In the second quarter of 2015, Welltec’s revenues stabilized at the first quarter level as industry fundamentals continued to be challenging. The stabilization was driven by growth across select geomarkets coupled with penetration of new clients, partly offset by the negative impact from the continued industry downturn.

EBITDA increased sequentially as a result of proactive decisions to adjust the global organization to the prevailing demand levels. Welltec® continuously aligns its spend in order to ensure margins and cash flow resilience ensuring adequate financial flexibility through challenging times.

In the second quarter, the solid operating cash flow was driven by the sequential margin improvement combined with strict working capital management. Furthermore, balanced investment levels coupled with the disbursement of the EIB loan paved the way for a significant increase in cash and cash equivalents.

CONTACT

Michael Krabbe, Chief Financial Officer,
Cell: +45 3034 3000
Simon Stadil, Director, Treasury and Investor Relations
Cell: +45 5213 8944

Outlook

Despite the continued challenging market backdrop and limited visibility, Welltec® expects stabilization towards the latter part of the year with performance in H2 expected to be around the same level as H1 in terms of revenue and EBITDA margin.

Jørgen Hallundbæk, CEO: “As expected, our second quarter reflects the prevailing industry dynamics as operators continue to adjust their activities amid the industry downturn. The prolonged uncertainty coupled with weak supply and demand fundamentals underpins the importance of promoting production optimization in order to improve corporate cash flows and enhance return on investment. Moreover, the industry needs to adapt to the low oil price environment by rethinking their operational setup and implement new game changing technologies.

We continue to develop and deliver our industry leading technology to our clients, allowing them to reduce capex and cost, without jeopardizing safety. This was demonstrated in the second quarter as we saw clients adopting our complementary completion and intervention technology, benefiting from reduced lifting cost, ultimately improving financial performance in this low oil price environment.”

Investor conference call
Welltec® will discuss its results during an investor conference call today at 5 pm CET. An accompanying slide presentation is available on the “Investor” section of Welltec’s website at www.welltec.com under the subheading “Download Center”. The conference call can be accessed by dialing in a few minutes before the 5 pm CET start and informing the operator that you are dialing in for Welltec’s investor conference call, ID 4646971.

Conference Call Access Numbers:
Denmark: +45 3271 1659
United Kingdom: +44 (0)20 3427 1914
USA: +1 646 254 3362

The call will be webcast simultaneously and available online following today’s live transmission.

Company Profile

Welltec® is a leading provider of intervention and completion solutions to the oil and gas industry. Our pioneering technology challenges conventions to increase recovery in a safer and more sustainable way, enabling operators to optimize the management and development of their assets throughout the life cycle.

We address the factors that maximize value creation, disruptively innovating to increase reservoir contact over an extended life cycle, in a fraction of the time, energy and logistical effort of the conventional alternatives. The effect is one of increased net present value through higher returns and reduced risks. Our Flex-Well® approach serves to maximize production and increase total recovery while lowering operational and total development costs. Our game-changing solutions extend the productive life of wells and enable clients to pursue fields that would not otherwise be economically viable.

Our unique approach provides for safer operations, removing considerable infrastructure costs and operational effort. Our lightweight technology lowers the complexity and hazard potential of operations, reducing the risk to personnel and allowing smaller work crews, fewer lifts and lighter loads. We reduce dependency on rigs, significantly reducing the industry’s energy consumption and carbon emissions. The ability to operate in extended reach and horizontal wells allows operators to drill multiple wells from the same topside location, thereby further reducing the environmental footprint.

Our technology created the market for robotic well intervention and continued market leadership is the result of constant innovation, rigorous IP protection and a commitment to completely addressing our clients’ challenges. Our completion concept represents the next paradigm shift for the industry, with a simple yet revolutionary approach that allows operators to tap into the full value of their reservoirs at a much lower level of invested capital and with an unprecedented degree of flexibility. As an example, the simple application of expandable metallic well annual barriers (WAB®) overcomes the traditional shortfalls of cementing to enable a lower completion as minimal or intricate as the reservoir characterization itself. Fields can be developed and maintained from fewer topside locations and brought on line faster, for longer.

In an industry characterized by maturing fields and increasing depletion, the premium attached to technology which aids in reversing these trends will continue to gain momentum. Our technology safeguards people and returns on investment, enabling clients to unlock more value from their assets and to address reservoir complexities and uncertainties with a greater number of options.

Important Notices

Any statement in this announcement that is not a historical fact is a “forward-looking statement”. Such statements may include opinions and expectations regarding Welltec® and its future business, management’s confidence and strategies as well as details of management’s expectations of new and existing programs, technology and market conditions. These forward-looking statements rely on assumptions concerning future events that are subject to a number of risks and uncertainties, many of which are outside Welltec’s control, and which could cause Welltec’s actual results to be materially different from these forward-looking statements. While Welltec® believes that its assumptions concerning future events are reasonable; there are inherent difficulties in predicting certain important factors that could impact the future performance or results of Welltec’s business. Accordingly, such statements should not be regarded as representations as to whether such anticipated events will occur nor that expected objectives will be achieved. Welltec® expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.


Q2-2015 Report and Investor Conference Call announcement

Company announcement no.7/2015: Welltec® will disclose its interim quarterly financial report for Q2-2015 on Thursday, August 20, 2015 and will discuss the results during an investor conference call at 5pm CET.

CONTACT

Michael Krabbe, Acting CFO,
Cell: +45 3034 3000
Simon Stadil, Director, Treasury and Investor Relations
Cell: +45 5213 8944

An accompanying slide presentation will be available on the “Investor” section of Welltec’s website at www.welltec.com under the subheading “Download Center”.

The conference call can be accessed by dialing in a few minutes before the start and informing the operator that you would like to participate in Welltec’s investor conference call, conference ID 4646971.

The conference call will also be webcast simultaneously on a listen-only basis. Please log in via the “Investor” section of the website in due time to test your browser. A replay of the webcast will then be available following the transmission.

Conference Call Access Numbers:
Denmark: +45 3271 1659
United Kingdom: +44(0)20 3427 1914
USA: +1646 254 3362

Company Profile

Welltec® develops and delivers technology and solutions intended to transform the oil and gas industry. Our game-changing solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including the most extreme and hostile, such as deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells. Our lightweight solutions are based on a vision to improve safety while reducing environmental risks, fuel consumption and carbon footprints.


Welltec Announces Payment of Interest

31 July 2015
Company announcement no. 6/2015

Pursuant to the Rules and Regulations of the Luxembourg Stock Exchange (edition 2012/07), section 903 and section 904(vi) it is noted that Welltec A/S has paid interest on the bonds per 31 July 2015.

CONTACT

Michael Krabbe, Acting CFO
+(45)-3034-3000

About Welltec
Welltec is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon producing areas and had in 2014 and average of 1,013 dedicated employees across 29 countries. For the twelve months ended December 31, 2014, we had revenues and EBITDA of approximately USD 345 million and USD 155 million, respectively.


Well Cleaner® Maintains High Rate Gas Production Offshore Without a Rig

Offshore UK in the North Sea, a high rate gas producer could not actuate the downhole safety valve (DHSV) due to scale build-up. Welltec carefully planned and mobilized to the platform with the right equipment and procedures to rectify the problem based on prior, practical experience in solving this type of challenge.

CONTACT

VP Marketing
Brian Sidle
bsidle@welltec.com

Without the need for a rig, the e-line was rapidly rigged up on a mast unit and used to deploy the toolstring. On the first run into the well, the Well Miller® ran a special bit which cut through multiple bridges of sodium bromide scale encountered above the DHSV. This was followed by a run with the Well Cleaner® WBH (Wishbone Honer) which cleaned the internal profiles of the upper, sealing portion of the DHSV, removing the residual scale deposits and restoring full functionality.

The DHSV remains in the open position while the well is flowing. If scale deposits form, they frequently can occur across the sealing portion of the DHSV, preventing it from sealing completely when shifted to the closed position.

‘This was a “must do” job for the customer,’ says Nelo Aracena, BDM for Welltec, UK. ‘Value for the client was very high due to the lack of functionality of the safety valve which was not able to be operated.’

Following the successful scale clean-out the client commented ‘Overall the job went very well…, everything was a success.’ ‘In the end, we went out and did what we do for a living; fixing wells,’ summarizes Aracena.

Welltec® is the world’s largest provider of e-line intervention solutions, including the Well Tractor® and a full portfolio of innovative technology for milling, clean-out and mechanical solutions.