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Tuesday, 14 February 2017

ExxonMobil awarded Pason with license for efficient drilling technology

SPRING, US: ExxonMobil Corporation has awarded its first global license of patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite to Pason Systems Inc.
The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimisation.
Fast Drill combines high-end modelling of drilling physics with structured good planning and design to identify limiters and maximise performance. ExxonMobil’s drilling rate has improved more than 80 percent since introducing the Fast Drill process more than a decade ago.
The Drilling Advisory System automates and enables implementation of the Fast Drill process in real time on the rig floor by integrating ExxonMobil proprietary modelling with data analytics. Use of the Drilling Advisory System has thus far improved ExxonMobil’s drilling performance at nine fields.
ExxonMobil’s Fast Drill process has resulted in an annual energy saving equivalent to removing 1,200 cars from the road. The additional reduction in fuel consumed translates to a proportionate decrease in emissions.
“Energy producers today are looking for any opportunities to improve operational efficiency and reduce costs. The drilling advisory system component to our efficient Fast Drill technology provides such an opportunity by enhancing monitoring and improving drilling performance, thus reducing costs,” said Tom Schuessler, president of ExxonMobil upstream research company.
“The deployment of ExxonMobil’s Drilling Advisory System extends our portfolio of technologies that can significantly improve the efficiency and effectiveness of drilling operations. We have enjoyed working with ExxonMobil through the development and field demonstration phases of this project. This license is the culmination of that hard work,” said Marcel Kessler, president and CEO of Pason.
© Worldofchemicals News
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