2022 IN REVIEW

A year of growth

In 2022 we saw the increased awareness of the CAN technology for field developments, resulting in our second field development contract internationally. Furthermore, an ever-growing number of Clients have started to realise the cost and CO2 reduction benefits from the CAN technology resulting in several more Clients and frame agreements. Lastly we saw that the introduction of installation campaigns was adopted swiftly by the market, with the successful execution of the final 7 CAN installation campaigns in October and November.

Support the energy transition

The energy sector faces the combined challenges of secure, cost-efficient supply of energy while reducing emissions in line with the European taxonomy regulations. We are committed to align with these needs by providing a robust well foundation replacing the traditional conductor based top hole section with the CAN-ductor, reducing cost and CO2 emissions by approximately 500 tons per well.

Looking into 2023

We see significant interest to use the CAN technology to reduce cost and CO2 emissions, both in Norway and internationally. We are currently planning our spring installation campaign for Q1, and both fabrication and engineering are ongoing. We plan on increasing our organization to handle the increased work load, as well as strengthening our partnerships and supplier network.

We would like to thank all our Clients, suppliers, and partners for making 2022 the most busy and successful year of Neodrill’s more than 20 years history and wish you all a prosperous New Year.