Aker BP puts money into increased recovery technology
Norwegian oil company Aker BP has invested in and acquired a 17% stake in the company Fishbones, an unconventional stimulation technology applied to increase the production rates in tight reservoirs.
According to Aker BP’s statement on Monday, the Fishbone concept was initially developed for a field trial at Valhall field from 2008 to 2012, but was not put to use.
The technology sends 12 m long needles from the wellbore into the reservoir formation, increasing the effective wellbore drainage radius, the connectivity with any natural fractures, and the penetration through natural formation fluid flow barriers, the company explained.
Aker BP noted it sees a potential for substantial cost savings and potential for increased recovery by using this method. The technology will initially be applied at the Valhall field.
Ole Johan Molvig, SVP Reservoir in Aker BP, commented: “Investing in Fishbones enables us to influence, adapt and fully develop the technology to increase recovery on the Norwegian Continental Shelf and beyond while also developing solutions that are fit for the Aker BP fields. We have already started developing a specialized solution to handle this soft and fine-grained reservoir In the Valhall chalk field.”
Subsequent to Aker BP investing in Fishbones, Statoil Technology Invest holds a 25 percent stake in the company and Freyer Holding holds 51 percent. Aker BP will have one seat in the board of directors of the company.