Futuretec Celebrates After Successful 'First of its Kind' North Sea Project
Futuretec Ltd, a technology company specializing in engineered equipment solutions, has secured a 5-figure contract with Oilexco. The firm has provided its patented Turboblade Centralizers to Oilexco for use in two North Sea wells - this successful project was the first of its kind in the North Sea.
Use of the Turboblade has aided Oilexco to overcome the challenges encountered during the complex drilling and cementing processes. Deploying to significant depth is aided greatly by Turboblade's very low 'co-efficient of friction', combined with the Double Blades, causing turbulence which not only assists in the clearing of hole cuttings but also vastly improves the cement bonding process.
Derek Herrera, chief executive, Futuretec Ltd, said: "This was an exciting project for the company and adds to our established successes in the Middle East and Continental Europe. The Turboblade has now proven its worth in the North Sea and we intend to pursue more projects in this area.
"As a technology firm, our aim is to continue to invest in a high level of research and development that addresses ongoing problems within the drilling and development sectors. We are currently involved in a number of Joint Industry Projects (JIP) and have several other patents under development with the intention of delivering new technology to the industry in the near future."
Futuretec received over £50,000 from SMART: Scotland and continues to develop other highly innovative and commercially viable products aimed at improving cased hole installation and integrity.
Futuretec was founded in 2000 after several years of research and development and has headquarters in Aberdeen. The firm has 7 members of staff and incorporates many years of direct experience of drilling, down-hole tools and tubulars, cementing, well-remediation and integrity assurance design, manufacture, sales and supply. The firm has already attracted significant investment from a variety of sources and has entered into discussions with potential customers and distribution partners in the major global energy producing regions.
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- Futuretec Celebrates After Successful 'First of its Kind' North Sea Project (Jul 31)