Oil & Gas
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ExxonMobil has awarded to Pason Systems, the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialisation by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimisation.
Fast Drill combines high-end modelling of drilling physics with structured well planning and design to identify limiters and maximise performance. ExxonMobil’s drilling rate has improved more than 80 percent since introducing the Fast Drill process more than a decade ago.
The Drilling Advisory System automates and enables implementation of the Fast Drill process in real time on the rig floor by integrating ExxonMobil proprietary modelling with data analytics. Use of the Drilling Advisory System has thus far improved ExxonMobil’s drilling performance at nine fields.
Tom Schuessler, president, upstream research company, ExxonMobil, said, “Energy producers today are looking for any opportunities to improve operational efficiency and reduce costs. The drilling advisory system component to our efficient Fast Drill technology provides such an opportunity by enhancing monitoring and improving drilling performance, thus reducing costs.”
ExxonMobil’s Fast Drill process has resulted in an annual energy savings equivalent to removing 1,200 cars from the road. The additional reduction in fuel consumed translates to a proportionate decrease in emissions.
Marcel Kessler, president and CEO, Pason, said, “The deployment of ExxonMobil’s Drilling Advisory System extends our portfolio of technologies that can significantly improve the efficiency and effectiveness of drilling operations. We have enjoyed working with ExxonMobil through the development and field demonstration phases of this project. This license is the culmination of that hard work.”
Pason Systems Inc. is a leading global provider of specialised data management systems for drilling rigs. Our solutions, which include data acquisition, well site reporting, remote communications, and web-based information management, enable collaboration between the rig and the office. Pason’s common shares trade on the Toronto Stock Exchange under the symbol PSI.
— Feb 20, 2017 @ 01:00 GMT
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