Neodrill looks to the US and Mexico with Strategic Business Development hire
27 August 2019
Estimated market for Neodrill’s technology in the US and Mexico is over $10million per year
The CAN technology reduces field development costs and helps with wells in difficult seabed conditions
With over 40 years of experience, Tony Smith will start the new role on September 1st
Stavanger, 27 August 2019 – Today the innovators in pre-rig technology, Neodrill, announced it is bringing its Conductor Anchor Node(CAN®) technology to the US and Mexico. To support this, the role of business development manager for the region has been created. The position has been filled by Tony Smith, a business development expert with over 40 years of experience in the oil and gas sector.
Beginning his career with Shell in the UK. Tony has worked with Schlumberger as Vice President of Sales for the Completions Segment. Throughout his career he has overseen the successful launch of several new product development technologies for both Smith International and Schlumberger.
Neodrill’s technology is relevant to both exploration and production wells in the Gulf of Mexico. The estimated market for Neodrill’s technology in the US and Mexico is over $10million per year. By providing a greener, smarter and safer well foundation, the technology addresses issues such as well verticality, load capacity and fatigue management. The technology is particularly applicable in areas, such as the Gulf of Mexico, where you have difficult seabed conditions relating to the lateral or vertical bearing capacity. Recent studies indicate the CAN-integrator delivers a saving of up to 20% on field development and infill wells. It achieves this by enabling marine and SURF operations to be carried out prior to rig arrival. This process saves costs, reduces project execution time and facilitates early production.
Commenting on the news, Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “The Gulf of Mexico has the potential to be a game changer for Neodrill due to the large number of infill wells that can benefit from CAN-integrator in the coming years.
“This year we have gone from strength to strength as our technology has been applied for the first time under a number of different conditions such as sand only wells. Continuously understanding new applications is important for us, as it allows us to bring new solutions to operators and offshore service companies.”
Tony Smith, Business Development Manager US & Mexico, said: “I am proud to be working with a company that is committed to continuous innovation. My vision for the role is to grow the Neodrill business in the USA and Mexico. With major reductions in environmental impact possible because of the technology, I look forward to working with clients to effect real change within the industry.”
Tony Smith joins at a busy time for the company, which has experienced one of its most active years to date. The recent Lifecycle Assessment found that the environmental impact of the CAN-ductor is between 21 – 44% less than that of a conventionally drilled well. The Lifecycle Assessment Report for the CAN-ductor is available to download from the Neodrill website.
Neodrill will be attending Offshore Europe, where it will be exhibiting at stand 1AA60.