Neodrill to bring well foundation technology to US and Mexico

Beginning his career with Shell in the UK, Smith has worked with Schlumberger as Vice President of Sales for the Completions Segment. Throughout his career he has overseen the successful launch of several new product development technologies for both Smith International and Schlumberger.

Neodrill’s technology is relevant to both exploration and production wells in the Gulf of Mexico. The estimated market for Neodrill’s technology in the US and Mexico is over US$10 million per year. 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 there are 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.

Neodrill’s CEO, 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 we have gone from strength to strength as 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.”

Smith, Business Development Manager US & Mexico, said: “I am proud to be working with a company that is committed to continuous innovation. My vision for the role is to grow the Neodrill business in the USA and Mexico. With major reductions in environmental impact possible because of the technology, I look forward to working with clients to effect real change within the industry.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/29082019/neodrill-to-bring-well-foundation-technology-to-us-and-mexico/