Red Spider, the Remote Open Close Technology specialist delivering major savings and reduced risk to the oil and gas industry, has announced that it successfully completed an operation worth over GBP 300,000 with a major energy company using its eRED FB technology off the coast of Equatorial Guinea.
Red Spider invested almost GBP 1,900,000 over two years into the research and development of new technologies including the eRED FB. This was the product's first run within the region.
eRED FB provides a down hole barrier that can be opened and closed by remote command, removing the need to set a plug via conventional intervention methods.
In this application eRED FB successfully eliminated deep set interventions during the completion placement phase of the sub sea horizontal well. Deployed as an integral part of the tubing string, eRED FB was run in hole in the open position to a depth of 9,100 feet at a deviation greater than 80°. During the operation it was remotely operated twice using pre programmed pressure and time commands, firstly closing the tool to provide a means to set the packer and test the tubing integrity, then opened with maximum flow area maintained for production. This provided time and money saving to the client whilst eliminating all the risks typically associated with the intervention of a highly deviated well.
Mr Steve Nicol CEO of Red Spider said that "Everyone at Red Spider is thrilled the eRED FB operation was such a success. We look forward to further utilizing the tool globally and expanding our services within the West Africa region. The first product in Red Spider's ROCT range was eRED, a computer controlled ball valve technology that can be repeatedly opened and closed by remote command, which has completed over 120 runs and is rapidly becoming the valve of choice for intervention type work. The eRED FB full bore valve has now proved that the eRED technology can be scaled up and we are confident that it will emulate the eRED’s success during completion placement operations."
The eRED FB is expected to deliver savings of between 32 to 38 hours (GBP 430,000 to GBP 530,000) by eliminating the requirement for any wire line runs during a completion placement operation. Eliminating the requirement to deploy traditional wire line equipment speeds up the completion process, bringing wells on stream sooner and reducing the risk of exposure to bad weather. This also removes the need to rig up and rig down wire line and PCE equipment, which reduces the risk to personnel, equipment and the operation.
Source - Red Spider
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