Welltec has been awarded a four-year contract from Ecopetrol Colombia for the supply of Well Tractor conveyance and Well Cutter services. The initial contract value is in excess of $5 million with options to increase as required.
“Ecopetrol (NOC) Colombia is focused on exploration and development of assets in Colombia. Ecopetrol is developing a campaign of drilling horizontal wells in several of its main fields in which the use of tractor technology represented significant savings in rig time and minimized risk by avoiding pipe operations. With the new contract we expect to continue having the benefits of using tractors as well as to introduce the use of non-explosive cutters, particularly due to regulations in Colombia for explosives transportation,” stated Diana Patricia Chaparro Corredor, leader of Ecopetrol Reservoir Optimization Group.
Welltec has been providing Well Tractor conveyance services to Ecopetrol since January 2012, resulting in efficiency gains for Ecopetrol. Similar to the previous contract, this agreement provides conveyance solutions for open-hole, cased-hole, perforation and production logging services, plus new technology, such as the Well Cutter for mechanical cutting operations.
“This commitment by Ecopetrol in Colombia demonstrates that our disruptive technology is providing value in terms of optimized management of their assets with a minimized risk profile,” Carl Strubberg, Welltec Senior VP, Americas, said. “It is significant that Ecopetrol allowed us to introduce further new technology into the contract in the form of the Well Cutter. This will allow Ecopetrol to realize the same benefits from this innovative tool that our clients are realizing in other parts of the world.”
Well Tractor is a trademark. Well Cutter is a registered trademark of Welltec.