MOL contract – OCTIO Gravitude AS

MOL NORGE AND INNOVASJON NORGE ENGAGE IN THE FURTHER DEVELOPMENT OF THE OCTIO DRILLWATCH TECHNOLOGY

MOL Norge has decided to deploy OCTIO DrillWatch technology for the upcoming exploration well 2/9-6 S in the PL617 block.

DrillWatch has the potential to improve operational efficiency and safety for MOL Norge. With look-ahead measurements, DrillWatch can significantly reduce depth uncertainty of formation reflections ahead of the bit.

The project has been made possible through funding from Innovasjon Norge.

“The OCTIO team thanks MOL Norge and Innovasjon Norge for the support. This technology collaboration opportunity has the potential to lower the carbon footprint of hydrocarbon extraction,” said Leon Lovheim, OCTIO Gravitude’s CEO. He added: “With the current challenging times and a low oil price, adoption of agile technologies like DrillWatch can significantly improve cost savings for the operators. ”

Cost-Efficient Solution
During DrillWatch operations, OCTIO deploys a seismic sensor cable on the seafloor. The sensors detect the acoustic signal generated by the drilling bit, and this signal is processed in real-time to triangulate and locate the drill bit position. Unlike conventional surveying technologies with growing ellipses of uncertainty, DrillWatch’s accuracy is independent of total vertical depth (TVD) and lateral step out.

Furthermore, the acoustic signals emitted by the drill bit allow imaging of the geology ahead of and surrounding the drill bit (seismic look-ahead) in near real-time. Unlike conventional Seismic While Drilling or Wireline VSP technologies, OCTIO DrillWatch requires neither dedicated tools in the borehole nor an external seismic source on a dedicated vessel.

OCTIO and MOL Norge teams are working closely to finalize the planning and operational needs. The well will be drilled with the Maersk Integrator rig in late 2020.