Camcon Technology has signed a three-year, multi project, technology and business agreement with WellDynamics, the world market leader in intelligent completion technology for the oil and gas industry
Camcon Technology has signed a three-year, multi project, technology and business agreement with WellDynamics, the world market leader in intelligent completion technology for the oil and gas industry. Camcon and WellDynamics will work together to integrate their respective technologies to produce a series of advanced well product configurations. A number of projects have already been identified spanning several different application fields in the oil sector.

Initial focus will be on developing a new range of systems for reservoir management, expanding the WellDynamics current line of solutions.

Additional development projects are anticipated during the life of the technology development agreement.

The agreement describes a working framework between the parties covering technology development through subsequent commercialisation and licensing of the products.

Under this agreement, WellDynamics will have full access to Camcon intellectual property and know how.

'This agreement is a significant step forward in the commercialisation of Camcon technology for oil field applications.

We have been working for over 2 years on demonstrating this technology for oil field applications and have recently been focussing on a route to full commercialisation.

We are delighted that WellDynamics have selected Camcon as a technology partner and we look forward to further announcements in due course,' said Ian Anderson, COO, Camcon Technology.

'With the challenges set by growing demands for energy, reservoir management is becoming an ever more critical element of the oil supply chain.

Camcon technology could provide the basis for a step-change in applying advanced reservoir monitoring and control technology across a much broader range of applications than is possible today.

This is a very good fit with our expanding portfolio of advanced well management solutions and with the wide applicability of the technology could lead to significant advances in enhanced oil recovery for maturing fields,' said Derek Mathieson, VP Technology and Marketing, WellDynamics.