Welltec® Wins OTC 2015 Spotlight on New Technology Award

HOUSTON, Texas, March 13, 2015 /PRNewswire/ --

Welltec®'s latest development, the Welltec® Annular Barrier (WAB®) has won the OTC Spotlight on New Technology award as one of the latest, most advanced technologies that are leading the industry into the future.

     (Logo: http://photos.prnewswire.com/prnh/20140219/671153 )

"We pride ourselves on being a transformational company, one that develops technology with real, immediate impact" says CEO Jorgen Hallundbæk. "The WAB® is another perfect example of our vision. Its universal application can significantly improve safety and efficiency in our industry, providing a reliable, effective annular barrier while eliminating the need and cost of cement."

The Welltec® Annular Barrier is a unique, metal expandable barrier with a large expansion ratio and high delta P capability. As a qualified, stand-alone barrier element, it precludes the need for cement in the construction phase for many applications. Its novel capabilities allow it to be expanded from surface, with no waiting times and conform to the surrounding open (or cased) hole environment.

Following on successful ISO V0 qualifications in Denmark, the 9 5/8" V0 WAB® was subsequently approved to meet a client's Internal Barrier Policy based upon NORSOK D010 Rev 4, enabling them to apply this unique technology without the need for dispensation in the North Sea. The WAB® was installed without cement to prevent surface annular pressure (SAP) buildup within the B annulus.

"Being recognized as an OTC Spotlight Technology Award winner is fantastic," declares Paul Hazel, VP of Well Completions. "It's the culmination of lots and lots of hard work by a great team at Welltec."

Welltec® is the pioneer and the world's largest provider of downhole robotic solutions for deployment, milling, clean-out and mechanical solutions. More recently our novel, expandable metal annular barrier's (WAB's) capabilities are accelerating and providing benefits for operators globally for safer wells with lower capex while providing higher productivity.

For more examples of innovative ways to solve your challenges visit us at: http://www.welltec.com/transform

Contact: Paul Hazel, +44-779-1312943

SOURCE Welltec

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