eDrilling scores DEMO 2000 funding
Sandnes-based drilling and well performance solutions specialist eDrilling has been awarded DEMO 2000 funding through Norwegian Research Council.
Energy companies have for decades leveraged eDrilling’s AI, Machine Learning and Predictive Analytics software to optimize well construction and drilling operations.
The funding through the DEMO 2000 program will help demonstrate application and added value of these technologies to existing infrastructure – both addressing the cost savings needed for field life-extensions, and, perhaps most important, the sustainability and carbon emission goals of the industry.
“This is a testament to eDrilling’s standing as a world-leader in making well construction and drilling operations safer, cheaper, more effective, and more sustainable.
“In the “old” world, innovation often meant “rip and replace” old technology with new, with significant environmental impact,” adds Sven Inge Ødegaard, COO and Head of eDrilling Research.
“Reusing rigs and perfectly usable drilling-related equipment will make a significant initial saving by removing the need for the energy locked into new build materials and manufacturing. We have not calculated the tons of CO2 savings per rig, but it is compelling. Moreover, of course, our technologies have a substantial impact on operational CO2, as leveraging AI and Predictive Analytics software results in less time per well – both performance optimization, and the avoidance of non-geological incidents causing need for drilling of side-tracks.”
Norway’s minister of Petroleum and Energy, Tina Bru, also says:
“The Government’s ambition is to reduce greenhouse gas emissions, costs and contribute to more efficient operation of the Norwegian continental shelf. We do this, among other things, by facilitating the testing and demonstration of new technologies.”
The DEMO 2000 program seeks to ensure long-term competitiveness in the oil and gas industry and continued profitable development of the petroleum resources on the Norwegian continental shelf. The objective of the DEMO 2000 program is to achieve the qualification of innovative products and systems in close collaboration between the supplier industry, research institutes as well as petroleum companies, by providing funding for the development and testing of prototypes and pilot installations offshore.
The program promotes collaboration between the Norwegian supplier industry and the oil and gas industry in order to ensure the development and application of new technology that can reduce the cost of activities on the Norwegian continental shelf, increase recovery rates, reduce greenhouse gas emissions and contribute to improved conditions relating to health, safety and the environment.