StatoilHydro Backs Siem WIS for CircSub Test

Siem WIS, a company 60% owned by Siem Offshore, announced that a contract is entered into with StatoilHydro in respect of the prototype CircSub (Constant Circulation Device). StatoilHydro will contribute financially and operationally in the ongoing full scale test of the CircSub at the Weatherford Technology & Training Centre in Aberdeen.

The contract also includes a pilot offshore operation at one of StatoilHydro's North Sea installations.

Per Espen Edvardsen, CEO of Siem WIS, comments, "Siem WIS is pleased to have entered into this co-operation with StatoilHydro, and consider this contract an important step for the further development of the CircSub concept, and for the acceptance by the drilling industry."

"Due to rapid depletion of many reservoirs, drilling of new wells after production start is a challenge as the pore- and fracture pressure in the producing formation is reduced and creates a need to achieve a more constant well pressure during drilling and tripping operations."

"The aim of Siem WIS is that the use of the CircSub shall reduce the frequency of undesirable events, such as gas influx, wellbore collapse, or lost circulation and make it possible to drill wells with smaller pressure windows. The CircSub unit shall enable constant circulation during drilling, enabling difficult reservoirs to be drilled and drilled safer and more cost efficient."