Interwell P&A receives financial support from Demo 2000
A total of 15 million NOK has been committed to our P&A project for pilot and field testing. An important requirement before the release of this financial support is to secure sufficient funding support from industry partners and also commit contribution by internal funding. For pilot testing and qualification, the funding from Demo 2000 will not exceed 25% of total cost.
Oddbjorn Kopperstad, managing director of Interwell P&A, said: “Receiving external funding for technical developments is always a strong message showing trust and support. Since the startup of our P&A project, strong and supportive relationships have been established with all different stakeholders.
“We have very constructive dialogues ongoing with industry partners and hope we can soon inform that those agreements have been concluded and secured. This will represent a very important and critical milestone for the ongoing project, securing necessary funding for all activities defined and expected for 2016 and 2017. During this time period our goal and expectation is to have commercial solutions in place for some defined well configurations.”