Wellgrab nets funding for launch of new Electric Release Fishing Tool
Wellgrab has secured funding from the Research Council of Norway to support the launch of its new fishing tool, the Wellgrab Electric Release Fishing Tool (WERFT). The WERFT has performed two operations in 2019 with WERFT version 1. The next generation, WERFT version 2, is scheduled to be launched in Q1/Q2 2021.
The WERFT consists of a basic module and an accompanying tool pack with several special features. The concept combines several functions into one tool. With a combined control and communication system, it enables safer and cost-effective fishing and pulling operations. Further, by pairing digital capabilities with a versatile, multi-functional tool, the WERFT drives safer and more cost-effective fishing operations.
Current mechanical tools are often operated by the service operator pulling up or running down the wireline to which the tool is attached. When the geometry of the well is complex, this mechanical control is not precise, causing unwanted misruns or failure.
Designed to increase safety, the WERFT is controlled and activated from the surface, meaning that at the touch of a button the operator can easily connect to or from any object that has to be fished out. The tool is applicable for retrieving plugs, all fishing operations and for relocating downhole assemblies.
“As a team of innovators, we realized there was a functionality gap in the market and worked hard to deliver what is a genuine game changer,” Geir Magne Johnsen, CEO, Wellgrab, said. “The technology pairs digital capabilities with a versatile, multi-functional tool, and will drive safer and more cost-effective fishing operations as a result.”
“The funding from the Research Council of Norway will have a significant impact on our ability to deliver and build on the technical advances we continue to make in downhole well intervention,” Mr Johnsen added. “In particular, it will help bring to market our new Electric Release Fishing Tool.”
Funding for the development of the WERFT was secured as part of the Research Council of Norway’s DEMO 2000 program. This initiative seeks to ensure long-term competitiveness in the oil and gas industry and continued profitable and sustainable recovery of petroleum resources on the Norwegian continental shelf.