Deep Casing Tools Lands $13M Contract
UK-based oil and gas technology development company, Deep Casing Tools (DCT), together with its partner Innovaciones Petroleras Omega (InPO), has signed a master service agreement with a national oil company.
The agreement will see the operator award DCT contracts and orders with an initial value of up to $13 million for exploratory wells, which follows a successful tool trial with the operator in an exploration extended reach well.
DCT will supply the operator with its turbine-powered tools, TurboCaser and Turborunner, with the option to further support by provision of the MechLOK Drillpipe Swivel, SelfLOK and other new technologies.
David Stephenson, CEO at DCT, said: “This agreement is testament to our expertly engineered tools and skilled global personnel, which adds value to each and every one of our client operations.
“We look forward to working closely with our partner, InPO, in the successful delivery of this agreement and will strive to support the operator’s productivity using our cutting-edge technologies.”