Start-ups instrumental in reducing drilling costs
Norwegian start-ups Sekal and IMS have been instrumental to the automated drilling control (ADC) success story.
During last year’s Barents Sea drilling, Sekal’s automated drilling process control system DrillTronics and IMS’ automated drilling fluid monitoring unit Rheosense played a vital part in ensuring that drilling issues did not occur. Without these ADC tools, two well sections would have likely been lost. Not having to re-drill these sections saved 100 million NOK for Statoil.
Other STI investments in the ADC segment include Raptor Oil Ltd, Robotic Drilling Systems (sold to Nabors), and TracID (sold to NOV). STI is continuing to look for startups that develop tools which can help Statoil achieve its ADC ambition.