Interwell P&A receives continued financial support from Statoil and BP
DNV-GL, and their Technology Qualification Process (TQP), were subcontracted to ensure the project is supported with sufficient documentation management to show all necessary work has been carried out and properly examined prior to launching the product to the market.
An Endorsement Document was issued this June by DNV-GL which allows for the pilot testing of this technology. We now move into the next step of the project, consisting of field trials and further research and development to broaden the technical envelope where this technology might be applied, which will require further financial investment.
We are very pleased to announce that we have both Statoil and BP as continued sponsors for the next phase of the project. The JIP contract amendment means that up to approx. 18 million NOK has been committed from both companies for the continuation of the project. This financial support will be released during 2016 and 2017 based on milestones and approved project activities going forward. Both the financial support and technical input from the JIP partner have been key to the successful and promising project results.
The first field trials will take place in Canada in August this year, and based on successful results we intend to explore the Canadian market for commercial deliveries in 2017. However, further research and development would still be underway to allow the P&A technology to be applicable to a broader and more diversified range of well configurations in terms of downhole pipe sizes and multiple layers of pipe at actual setting depths.