Well Stroker® Saves $15 Million USD While Boosting Oil Production Multifold

LUANDA, Angola: Offshore West Africa, a deepwater well, was suffering from excessive gas breakthrough, limiting oil production. The gas was coning and producing from the top of an open hole gravel pack completion, bypassing the oil it was intended to energize.

CONTACT

Brian Sidle
bsidle@welltec.com
+(45)-4814-3514 / +(45)-5213-8346

To overcome this problem, the operator had been shutting the well in to allow the gas to re-saturate the oil in the reservoir. After some time the well was put back on line until the Gas-Oil Ratio (GOR) again became too high for the floating production storage and offloading (FPSO) facilities to accommodate. This cycle had been repeated numerous times while the operator searched for viable options to overcome this challenge.

The solution arrived in the form of a 525 foot (160m) long straddle isolation assembly which overcame the coning. Installation of this hardware was accomplished in sections and necessitated precise control of both depth and force; the former to ensure proper position downhole and the latter to avoid seal damage whilst stabbing and latching the individual segments, joint by joint.

The Well Tractor® and Well Stroker® provided the best solution for the operator; a combination which delivers precise, accurate depth and force control irrespective of distance in the well. Over a period of 15 days, multiple runs were made to ‘build’ the straddle assembly up, piece by piece in this live well.

The job was completed safely, 30 days faster than originally planned. This first of its kind operation in West Africa effectively shut off the gas breakthrough and increased oil production multifold. The efficient operations resulted in more than $15M saved in rig costs while the higher oil production generated more cash flow and improved overall efficiency of the FPSO asset.

Welltec® is the pioneer and the world’s largest provider of downhole robotic solutions for deployment, milling, clean-out and mechanical solutions. For more examples of innovative ways to solve your workover challenges through lower lifting costs, reduced capex and maintained production – http://www.welltec.com/reducecost


Welltec Announces Payment of Interest

30 January 2015
Company announcement no. 1/2015

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 January 2015.

CONTACT

Jesper Helmuth Larsen, CFO
+(45)-2329-2600

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 per-formance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solu-tions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geo-thermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon pro-ducing areas and had in 2013 and average of 1,055 dedicated employees across 28 countries. For the twelve months ended December 31, 2013, we had revenues and EBITDA of approximately USD 321 million and USD 135 million, re-spectively.


Welltec® Annular Barrier (WAB®) Replaces Cement as a Primary Well Barrier

Welltec®, the world leader in cost effective well solutions, is pleased to announce that its Welltec® Annular Barrier has been successfully utilized to replace cement as a standalone, primary well barrier for the mitigation of surface annular pressure build-up.

CONTACT

Johnny Bårdsen
Sales Director, Well Completion, Scandinavia
jbaardsen@welltec.com

Following on successful ISO 14310 V0 leak criteria qualifications in Denmark in November 2014, the 9 5/8” V0 WAB® was subsequently approved, deployed, successfully expanded and subsequently verified in a field which has historically been challenged by B surface annular pressure buildup.

Pressure build-up in the B annulus can potentially result in catastrophic well failures, lost production, high costs for remediation, extensive monitoring and control requirements.

“Approximately 40% of the global well stock suffers from failed barriers, cement contributing to a majority of these failures” states Paul Hazel, VP of Well Completions. “This product provides a new solution for operators to capitalize on.”

Prior to this operation, cement has been the main approved well barrier qualified to ISO/API and other industry standards for the use of mitigating annular pressure build-up.

The Welltec® Annular Barrier is a unique, metal expandable barrier with a large expansion ratio and high delta P capability. As a qualified, stand-alone barrier, it precludes the need for cement.

A brief description of the levels of ISOstandards for packers can be found at Petrowiki® – http:/petrowiki.org/packer_standards_and_classifications.

Welltec® is the pioneer and the world’s largest provider of downhole robotic solutions for deployment, milling, clean-out and mechanical solutions. And our novel, expandable metal annular barrier’s (WAB’s) capabilities have been accelerating and can now provide an alternative to cement as a primary well barrier.


Welltec® Restores 100 MMSCFD Production While Reducing Costs

Offshore East Timor, an inflatable packer had released and migrated up the wellbore, passing through a flapper valve where it then got stuck. To complicate things, a hold-open sleeve dislodged during the migration and landed on top of the valve.

CONTACT

Brian Sidle
bsidle@welltec.com
+(45)-4814-3514 / +(45)-5213-8346

Utilizing a fleet of patented technology including the Well Tractor®, Well Miller® and Well Stroker®, the well was cleared of the inflatable elements and other debris. The series of operations took place in half of the anticipated time and without the need for a workover rig; significantly reducing costs versus budget.

“This was a job well planned and executed. What a great performance by Welltec, which resulted in the well being brought back on-line at 100 MMSCFD flow rate after two years of inactivity. 17 runs were conducted with zero misruns and no HSE or quality incidents, which is an outstanding achievement.” Completions and Well Intervention Coordinator, ConocoPhillips.

At Welltec® we are actively engaging with our clients to mitigate industry challenges and increase cash flow through production optimization, risk reduction, increased sustainability, improved safety and reduced costs. For more details regarding this or other examples of substantial value delivered with significant cost savings, please visit www.welltec.com/reducecost

Welltec® is the pioneer and world’s largest provider of downhole robotic solutions. Our game-changing technology leads the way in milling, clean-out and mechanical solutions for safe and cost effective well optimization to ensure maximum recovery while lowering lifting costs.


Welltec® Annular Barrier (WAB®) Installed as a Primary Well Barrier

16 January, 2015

We have achieved a breakthrough in the industry with our Welltec® Annular Barrier (WAB®). For the first time in the world it has been run as a standalone, primary well barrier element. This is a truly exceptional accomplishment as the WAB® hereby has delivered a solution to a challenge that affects an estimated 40% of global wells: mitigation of pressure within the B annulus.

CONTACT

Johnny Bårdsen
Sales Director, Well Completion, Scandinavia
jbaardsen@welltec.com

When pressure migrates within the B annulus the effects can be catastrophic, costing lives and causing wells to be shut in. The WAB® solves these issues by providing a tight seal, thus preventing pressure build-up in wells. Further advantages include avoiding remedial work to establish cement barriers when the primary cement operation has failed and offering daily monitoring of the B annulus within wells to maintain production.

This world’s first achievement took place in the North Sea for Statoil where the 9 5/8” ISO14310 V0 WAB® was deployed; successfully expanded and subsequently verified on a well in a field which has historically been challenged by B surface annulus pressure buildup.

“It’s a milestone for the industry that this technology has become available,” states Øystein Eikeskog, Principal Engineer of Well Technology, Statoil. “Not only will this save us significant time during well construction, it provides significant mitigation of future B annulus pressure issues where other methods have failed.”

Following on successful ISO V0 leak criteria qualifications in Denmark in November 2014, the 9 5/8” ISO14310 V0 WAB® was subsequently approved to meet Statoil’s Internal Barrier Policy based upon NORSOK D010 Rev 4, enabling Statoil to apply this unique technology without the need for dispensation for this particular well.

“This is truly an outstanding achievement and demonstrates our continued efforts to provide disruptive innovation in the marketplace,” states Paul Hazel, VP of Well Completions for Welltec®. “The natural progression of this product continues at a steady pace, enabling a new perspective for well integrity considerations.”

The Welltec® Annular Barrier is a unique, expandable metal barrier with a large expansion ratio and high delta P capability. As a qualified, stand-alone barrier element, it precludes the need for cement in the construction phase for many applications.

The novel, expandable metal well annular barrier’s capabilities have been accelerating over the past four years and now provide an alternative to cement as a primary well barrier element.

Please click here to read more about our completion solutions.


1,500 lbs of Sand Removed on E-line

We have set another record with our powerful clean-out solution. During an operation in the North Sea the Well Cleaner PST retrieved a total of 1,500 lbs of sand with up to >300 lbs in two of the runs. The operation actually started as a drift run but owing to the remarkable efforts by the Well Cleaner the job went from drift to world record performance.

CONTACT

Terje Skeie
Senior Vice President Scandinavia
tskeie@welltec.com

The well had a history of sand production, but at the time of the operation the operator was not certain of the hold-up depth (HUD). As they now wanted to inspect the integrity and add more perforations it became important to establish the exact HUD. First they wanted to run the Well Cleaner RCB as a drift run for debris removal and determination of the HUD. However, this plan changed quickly as our clean-out solutions demonstrated just how effective they are.

A broad range of e-line clean-out technologies executed nine successful runs. On two of these runs we sat a record by removing >300 lbs of sand – in each run.

In total over 1,552 lbs of sand was successfully collected over a distance of ~ 1,735 ft. This enabled the operator to perform the logging run and make an informed decision on the perforations.

Our outstanding execution demonstrated how light, e-line clean-out solutions can deliver many of the objectives that the operator has for other wells without a workover rig or coiled tubing unit.

You can read the full story here.


Well Cutter® Provides 75% Cost Reduction

“A cut worthy of a king!”

Those were the words by the company representative after the Well Cutter® had cut through hard scale and tubing – in the same run.

This accomplishment took place offshore Norway where a large build-up of BaSO4 had restricted the ID of the 7” tubing to just 5.45”. The overall objective was to cut the casing, but in order to reach it the Well Cutter® would have to cut through the hard scale first.

CONTACT

VP Marketing
Brian Sidle
bsidle@welltec.com

At 6,717 ft depth the Well Cutter® successfully broke through the scale and cut the tubing, all in the same trip downhole. This took only three hours in total.

It was the first time we used the Well Cutter® to both cut through scale and tubing, but the operation clearly demonstrates the value of the tool. Significant rig time was saved and costs reduced considerably as a consequence. In total, the operator saved approximately 75% of the costs by performing the entire operation on e-line compared to a rig-based operation.

Please click here to read the full case story.


Welltec Oilfield Services Indonesia Receives Safety Certificate

Client Dedication and Performance are inherent Welltec values. Our team in Indonesia has demonstrated this brilliantly by delivering excellent safety performance for ConocoPhillips. They have operated 4,404 man hours without any recordable incidents and for this achievement they received a Safety Certificate on November 20.

CONTACT

Kiki Darwahjudi
Account Manager, Welltec Oilfield Services (Indonesia)
kdarwahjudi@welltec.com
+62 21 2966 0404

As part of our contract we have delivered conveyance services with our Well Tractors and also a broad range of our downhole mechanical tools with our Well Miller, Well Stroker and Well Cleaner.

The certificate is given as recognition for the period September 2013 – July 2014. During this time we have successfully delivered scale milling, gas lift changes and clean-outs for ConocoPhillips, to mention just a few types of our operations. With these interventions and certificate we underline our dedication to transform the industry such that it becomes safer, more sustainable while also achieving higher recovery.


41 Perforation Runs Increases Efficiency, Oman

Our ability to conduct operations safer and more sustainably were made evident when we enabled an operator in Oman to optimize the intervention strategy. And not only did our e-line solution ensure safer interventions, it also generated valuable time savings on these horizontal perforations.

CONTACT

VP Marketing
Brian Sidle
bsidle@welltec.com

Previously, the operator had been conducting perforations using coiled tubing conveyance. Although successful this method was also time-consuming as the rig-up procedure was lengthy and the operating times extended. Therefore the operator decided to apply Welltec’s e-line Well Tractor® as the preferred conveyance solution.

In total, a 1,916 ft long total interval was successfully perforated using the 2 1/8” Well Tractor. This was accomplished over four phases in order to test the flow between the different perforation stages.

Being able to conduct all the perforations on e-line secured a much more efficient operation both in terms of time and costs compared to the alternatives. Noticeably fewer people were required on location which, combined with the lightweight nature of our e-line technology, reduced risks and also eliminated heavy lifts.

Please click here to read the full case story.


Welltec’s innovations secure first Danish EIB loan under the InnovFin MidCap Growth Finance

Welltec recognized as a fast growing, highly innovative company with significant ongoing investments in innovative development and engineering.

CONTACT

Chief Financial Officer
Jesper Helmuth Larsen
jhlarsen@welltec.com
+45 23 29 26 00

The European Investment Bank (EIB) has signed a EUR 25 million agreement with Welltec A/S, a highly innovative Danish oilfield services company, for its innovative development and engineering activities to help operators optimize the management and development of their assets throughout the life-cycle of their wells.

This is the first EIB transaction in Denmark supported by the new generation of financial instruments for innovative and growth companies “InnovFin – EU Finance for Innovators”, with the financial backing of the European Union under Horizon 2020.

“InnovFin MidCap Growth Finance” is specifically dedicated to improving access to risk finance for research and innovation projects of midcap and SME companies in the European Union. For the full press release please go here: EIB / Welltec press release.