The companys signed an agreement to fund the development of novel downhole technology.
Petroleum AS have signed a joint sponsorship development agreement with Visuray Technology Limited, to fund the development of novel downhole technology that can evaluate the integrity of cement behind multiple casing strings in oil and gas wells.
The new technology, the VR360 Diagnostic Cement Evaluation Tool, will produce a full 3D cement map and complement traditional ultrasonic measurements, which are very sensitive to the cement bond between the cement and the inner casing wall.
The development of the VR360 tool was initially stimulated by regulatory focus on deepwater wells, although a similar focus on the abandonment of wells in old fields has opened a new and important market for the service.
In both applications, the VR360 tool has the potential to obtain valuable information. Value creation will be significant in the relevant well applications.
The goal of the joint industry project is to deliver a number of downhole prototype tools with a range of external diameters. The project is effective from Dec. 18, 2017, and is expected to last 3 years, during which time other oil companies may consider joining the project. The prototypes will be jointly tested in oil & gas wells by the parties in the project.
The VR360 tool will be built upon foundational X-ray technology developed by Visuray, known as the Downhole X-Ray Platform. Visuray's 1st tool from the Downhole X-Ray Platform, the VR90 Downhole X-Ray Diagnostic Tool, has proven well inspection applications and has been used commercially in wells all over the world.