Neodrill announces North Sea frame agreement with Lundin Energy Norway

Neodrill has signed a frame agreement with major oil and gas operator Lundin Energy for the deployment of CAN-ductor technology. The growth of the Neodrill-Lundin relationship, which has developed over the past seven years, highlights the drive of forward-thinking operators to utilize innovative technologies to modernize and streamline operations around environmentally conscious processes.

The initial four-year agreement with two further two-year extensions, covers unlimited units over a potential eight-year timeframe. This will see Neodrill’s CAN-ductor technology installed on future Lundin exploration and production wells. This is an opportunity for Lundin to scale up the success of previous CAN technologies used, aiming to repeat the savings in cost and time and reduce CO2 emissions as demonstrated on the Zulu, Lindormen and Bask wells.

Neodrill’s CAN-ductor technology, assembled onshore and easily installed using a vessel, has successfully demonstrated cost efficiency and minimize environmental impact. This innovative suction anchor with one joint of conductor integrated delivers top-hole support for exploration and production wells.

Neodrill CEO Jostein Aleksanderson said the continued development of Neodrill’s successful relationship with Lundin is an indication of the momentum of change in the oil and gas sector.

“We believe this is just the beginning – oil and gas operators must adapt to use best environmental practices at all stages,” Aleksanderson said. “Our estimates suggest that if CAN technology was used for approximately 50 exploration wells, those drilled in the North Sea each year, then 25,000 metric tons of CO2 emissions could be saved.”

Read the latest issue of the OGV Energy magazine HERE.