VIDEO: Statoil’s Cap-X set to cut capex

Norwegian oil company Statoil has revealed a new subsea concept that promises to reduce costs and increase efficiency.

Cap-X, as the concept is named, enables subsea standardization, something Statoil has called for as a way of reducing costs, which is of utmost importance for oil and gas operators at these times of lower oil prices.

According to a video released by Statoil, Cap-X is based on the standard and recognized suction anchor technology, and can be made by various suppliers. Cap-X makes us one step closer to plug & play on the seabed, Statoil says.

Norwegian news website Teknisk Ukeblad has obtained a statement by Statoil’s spokesperson Morten Eek, who said that the technology was born out of the company’s experience from previous drilling campaign in the Barents Sea, and that it might improve profitability in the area.

The company revealed this new concept at the Barents Sea Conference and Expo 2016 on Tuesday, April 19, 2016.

According to Statoil, the technology increases the efficiency of horizontal drilling in shallow reservoirs. The main structure of the technology can be produced in shorter time by a larger number of suppliers, with potential for local production.

“We as explorers need to find resources that can be developed at a lower cost and with lower emissions. Cap-X can potentially have a significant impact on developing the resources in the Barents Sea and in other areas with shallow reservoirs,” says Jez Averty, senior vice president for the exploration Norway and UK cluster in Statoil.

This is the second innovative subsea concept Statoil has revealed in as many days. Namely, the company on Monday said it was supporting development of snake-like swimming robots that should significantly cut costs related to subsea inspection, maintenance and repair operations. More on that here:

Offshore Energy Today staff

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