Just last month, Rystad Energy published findings illustrating that drilling of high-impact oil and gas prospects looks set to rebound this year. From our discussions with clients, we strongly echo this belief. Their research illustrated that discovered volumes from high-impact wells have almost quadrupled to over 1.7 billion barrels of oil equivalent. Indeed, just last week, Rystad Energy also reported that while global oil and gas exploration would shrink, companies were shifting their focus to ‘lower-risk core assets and regions.
What was interesting to read was that their findings noted that Asian licensing had bucked the trend with increased activity and blocks awarded in Malaysia, Indonesia, India and Pakistan. We have written previously about our renewed focus on these Asian markets. The Ace Splice Clamp (ASC) will be one of several products from within our suite that drives this focus, most notably within Malaysia and Indonesia. We look forward to continuing to support operators within these regions.
Optimizing Operational efficiency
When we introduced our innovative ASC to the completions market just over two years ago, we did so with the knowledge that it had the potential to optimize rig time efficiency greatly.
Following what was a significant time spent during the research and development stage, we took the decision to take what we referred to as a ‘one design fits all approach. We wanted to ensure that when using the ASC, operators had the ability to utilise different vendors for the various products required, while still being able to use ASC to house all combinations.
This was not the easiest path to take, but we resolutely believed that it was the best course of action. 24 months later and this decision has proven to be the correct one.
The innovative design continues to deliver across the globe
By combining the functionality of anchoring flatpacks, with a splice sub into one single product, the ASC ensures a flat pack control line assembly. The innovative design has been proven to protect bare control lines, splice blocks and check valves, time and time again. With its unique design, it can also house downhole gauges, chemical injection systems, and any other jewellery requiring subs.
As the clamp is not threaded into the completion string, we are able to manufacture from standard materials with no premium threads required. What’s more, no scrapping of unused backup tools is required, resulting in a substantial hardware cost saving. Now more than ever, reducing costs while supporting global energy demands will be vital for the success of the industry. The use of the ASC is greatly helping to support the completions market at a time when it’s needed most, reducing expenditure while increasing efficiencies in the process.
By directly attaching the ASC to the tubing or a pup joint, the clamp provides the same reliability and functionality that is usually offered by subs. When we launched the ASC, our conservative estimate was that between 6-8 hours of rig time could be saved per assembly by its usage. We have been able to show this across a variety of projects.
The ASC can be used below tubing hangers on both subsea and dry trees, as well as above. It can also be deployed below the Annulus Safety Valve, Downhole Safety Valves, Interval Control Valves and packers. Its versatility has already seen several successful use cases this year, with much more expected over the coming months.
Our portfolio will continue to support the sector, as and where required
This year has seen a sharp uptake in interest and demand across the wide range of our product portfolio, not least of all with the ASC. Now more than ever, we remain resolute in our mission to be the driving force behind downhole technology, concentrating our efforts on advancing cutting-edge solutions for the market. The ASC is only one such example.
By offering superior cable protection, it has provided the market with a more cost-effective and versatile alternative to traditional solutions. Its increased usage will continue to simplify completion operations while solidifying our position as the holding force in downhole technology.