Weatherford and Shell Enter Global Supply Agreement
Weatherford International, Inc. announced that it had agreed to terms with Shell International for the global supply of its expandable products. The agreement will be effective through 2003.
The agreement includes provision of Expandable Sand Screens together with slotted Drilling and Completion liners to Shell Operating companies in over 30 countries. The agreement, with a potential value of more than $160 million, confirms the growing importance of expandable technology and Weatherford's status as the leading supplier of this technology to the oil and gas industry.
Expandable technology refers to tools that can be expanded after they have been installed downhole. It also refers to specialized systems used in the expansion process. The range of applications includes sand control, drilling and completion tools and more efficient wellbore designs. The benefits include major cost savings and productivity improvements.