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Titan Torque signs major New Technology development contract with Steel Space Casing Drilling

Titan Torque signs major New Technology development contract with Steel Space Casing Drilling

 

Steel Space Casing Drilling (link www.steelspacecasingdrilling.com) and Titan Torque (link www.titantorque.co.uk) have signed a contract to commercialize an innovative Casing Drilling Tool.    

The agreement will see Titan take a seat at the board of Steel Space Casing Drilling and guide the company through to commercialization.

The World’s First “Single Trip, Downhole Powered, Multi Motor, Casing Drilling Tool” is designed to disrupt traditional drilling practices and make challenging oilfields easy to drill and complete.   

The design is unique in the industry and can utilize the power of up to TEN x Slim Hole Positive Displacement Motors mounted inside the casing centralizer blades to drive a drillable shoe. 

Operators’ eyebrows have been raised across the world in response to this new technology. Several have conducted positive technical reviews and are now considering applications where sections can be “combined”, where traditionally a contingency liner would have been planned. This efficiency could result in a saving of $5m per well in the target Middle Eastern markets. 

The Energy Transition is real, and one of the solutions to this complex problem is to reduce the emissions associated with the production of Oil and Gas. By eliminating entire sections and the Non-Productive Time associated with casing off trouble zones, significant carbon savings can be made.  

Titan Torque’s Managing Director, Keith Gaskin said: “Our first reaction when this was presented to us was “why has no one done this before?”.   

We were immediately excited about this innovation and could see how we could align with Steel Space Casing Drilling and help operators reduce costs and emissions.

Graduating from the Net Zero Technology Centre’s TechX program, Steel Space Casing Drilling are well respected but still have several gaps to reach commercialization, mainly around manufacturing and financial horsepower. Having recently developed the SJI to commercialization using a similar model, Titan are perfectly positioned to assist.”

Alan Phillips, Steel Space Casing Drilling CEO said: “We are excited to continue our journey to commercialization with our new partners at Titan Torque. We have already concluded our concept testing and will shortly move onto endurance testing with the new Titan facilities.    

We have a solid strategy in place which will see our fleet of tools being developed and manufactured in the Middle East in line with local Operators goals.”   

Read the latest issue of the OGV Energy magazine HERE 

Published: 20-06-2022

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