StatoilHydro Taps Siem for WIS Pressure Control Device

Siem WIS AS, a company 60% owned by Siem Offshore, announced that a contract is entered into with StatoilHydro in connection with the development and qualification of Siem WIS' Pressure Control Device (PCD). The contract is a result of a successful RPCD (Riser Pressure Control Device) pre-engineering and the final qualification of Siem WIS' patented technology, phase I.

The contract covers a trial of the PCD technology on Ullrigg in Stavanger during Q4 2009. The PCD technology is the Platform application of the RPCD and will be a part of phase II in the ongoing RPCD development contract with StatoilHydro.

The PCD will be ready for a final field operation execution, subsequent to the qualification at Ullrigg.

The PCD will be a product for the fixed platform and land market. The PCD will compete against traditional Rotation Control Heads which have been part of the global MPD business for nearly 30 years. The market advantages for the Siem WIS PCD will be increased operational reliability.

MPD and recent drilling techniques seek to establish a closed loop for the drilling fluid, to achieve better drilling performance. In addition, a closed loop system provides increased drilling quality with reduced risk, both with respect to the reservoir as well as emissions to the environment.

Depleted (infield) and high temperature/high pressure (HPHT) reservoirs will benefit from the closed loop drilling technology. This will lead to increased recovery and Drillability for the reservoirs mentioned in particular.

Per Espen Edvardsen, CEO of Siem WIS comments, "Siem WIS is pleased to enter into a third technology development co-operation contract with StatoilHydro." The contract is an important step for the further development of the PCD concept and for the acceptance of the technology by the drilling industry."