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November 15, 2020

Funding awarded from DEMO2000

Exciting times are ahead as Wellgrab, together with our partners Equinor, Repsol and Welltec, secures funding from Forskningsrådet (the Research Council of Norway) to support the launch of our new innovative intervention robot, the Wellgrab Electric Release Fishing Tool (WERFT).

On the announcement, Geir Magne Johnsen, CEO, Wellgrab, said: “As a team of innovators, we realised there was a functionality gap in the market and worked hard to deliver what is a genuine game changer. The technology pairs digital capabilities with a versatile, multi-functional tool, and will drive safer and more cost-effective fishing operations as a result.”

Designed to increase safety, the WERFT is controlled and activated from the surface meaning that at the touch of a button, the operator can easily connect to or from any object that has to be fished out. The tool can be used for retrieving any objects in a wellbore, all fishing operations and for relocating downhole assemblies.

In their evaluation of the application, Forskningsrådet recognized the need for increased efficiency and cost reductions within well intervention, but also highlighted the additional benefits of the robot: It’s contribution to reduced carbon emission, as well as the possibility to use the WERFT as a tool for inspection and interventions in other structures, like factories, waterworks and for sewer systems.

“The funding from Forskningsrådet will have a significant impact on our ability to deliver and build on the technical advances we continue to make in downhole well intervention.

“Together with our partners in the project, we are proud of the recognition the Research Council has shown us by the Demo2000 funding, and we are eager to start working on the project,” states Geir Magne Johnsen.

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