Sondex Acquires Rights to Well Test Production Technology
|Thursday, November 04, 2004
Sondex has acquired the patents and technology associated with a novel well test production logging (WTPL) methodology for €300,000.
The agreement has been made with Geo Energy s.a, a French research organisation that has pioneered the development to date of this important new technique. Sondex has agreed to take over the entire responsibility for this project with the intention of accelerating the commercial release of the technology.
Well test production logging allows an assessment of the production capability of an oil or gas reservoir to be made from within a producing well without interrupting production or deploying costly equipment. This will enable an operator to assess in a cost effective manner the current and future oil reserves in maturing oil and gas fields.
Sondex will design and develop variations to its existing production logging tools to perform the well testing. A major oil service company and a leading international energy group have been sponsoring the development of the technology and it is anticipated that they will continue their association with continuing development work. It is expected that these two companies will also be involved with future field trials and commercialization.
Martin Perry, Chief Executive of Sondex commented: 'We are very excited by this development, as the technology can be regarded as potentially game-changing. We look forward to bringing this technology to commercialization.'