Gazprom Neft joint venture fund New Industry Ventures is supporting the development of Russia’s first ever high-speed downhole survey system

30.07.2021
Фото gazprom-neft.ru

The “New Industry Ventures” fund (a collective venture fund involving Gazprom Neft, Gazprombank, the Russian Venture Company (RVC) and VEB Ventures) has invested in developing a universal telemetry platform to support the drilling of high-tech wells.

Russia’s New Industry Ventures fund has committed support for a project by Axel — a company specialising in developing and producing digital solutions and telemetry equipment for drilling processes. Supported by the fund, Axel will complete its development of Russia’s first ever platform for high-speed downhole surveys. This product will make it possible to obtain data on drilling trajectories and strata geological properties, in real time — swift access to that information facilitating better control over well targeting and allowing prompt adjustments, thus avoiding potential complications. Axel’s innovative product increases construction speed, improves accuracy in targeting oil-bearing formations, and increases well-flow rates, while minimising project costs and drilling risks.

In terms of key features, this Russian solution matches leading global alternatives, at a significantly lower cost. The product is marked by high speed and accuracy in data transfer, as well as minimal energy consumption. Axel has developed the industry’s first telemetry platform based on universal software — making the product compatible with most downhole-instrument manufacturers’ equipment, meaning oilfield services companies can optimise costs in providing drilling-support services on high-tech wells.

Research and development on the Axel platform and its components is now complete, having involved more than 40 pilot tests and field trials. Individual components and system prototypes have been delivered to more than 25 clients — all oilfield services companies in Russia and abroad. Support from the New Industry Ventures fund will mean the company can expand production capacity, continue developing its telemetry-equipment—remote support system product line, and open a representative office in the United Arab Emirates — Axel’s key markets, alongside Russia, being the Middle East, Asia and West Africa.

Источник: gazprom-neft.ru

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