Red Spider Delivers First Omani Order
Red Spider Technology has delivered the first order for its Velocity String Packer (VSP) for a series of wells for PDO in Oman, which will be deployed in conjunction with PSL Energy Services Ltd.
The deal, worth in the region of US $2 million, covering multiple wells over a two-year period, sees Red Spider provide equipment, installation and support for up to 25 wells in the initial phase of the project. Should this first phase of deployments prove successful, further wells have been identified to undergo similar installations.
The device provided by Red Spider has been specially developed to provide PDO with the means of retrofitting a secondary tubing string into the existing completed gas well to resolve liquid-loading problems. Installation of the equipment is scheduled to take place later this year, in June.
Gary Smith, Marketing Manager – New Technology at Red Spider said: "The VSP is distinctive because it has been designed to address several key requirements specific to the well geometry. It has the ability to suspend a large hanging weight – 120,000lbs and pass through a restriction in the well and set in larger ID tubing. It is also required to be deployed safely into the well bore under pressure, and the system must prevent the reservoir coming in contact with fluids during the deployment stage."
The delivery of the order marks Red Spider's first foray into the Omani sector, and underlines the company's aspirations in the Middle East.
Managing Director of Red Spider, Chris Oliver, commented: "The delivery of this order underlines the success of our decision to establish a permanent presence in the Middle East. Last year we appointed a Regional Manager for the region, Willie Morrison, and opened an office in Dubai to show our commitment to the area.
"I believe that our reputation for reliability and quality, coupled with our expert understanding of client requirements will ensure that Red Spider Technology continues to achieve success in the Middle East," added Chris.
Red Spider Technology develops innovative tools to meet the new challenges in the oil and gas industry. With headquarters in Westhill, near Aberdeen, and offices in Stavanger and Dubai, the company supplies innovative down-hole tools to the global oil industry, aimed at adding value by reducing client operating time, production costs and environmental risks.
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