Well-intervention innovation rewarded

STATOILHYDRO received the innovation award yesterday at the 14th European Well Intervention Round Table.

Alan Turner, chairman of the Intervention and Coiled Tubing Association (ICoTA) European Chapter, presented the winner’s trophy to Oyvind Jensen, of StatoilHydro.

The company won the award for riserless light well-intervention technology. Mr Turner said: “StatoilHydro is recognised as a leader in applying this type of technology. It has proven cost savings of over 60% in applying this technology instead of utilising conventional semisubs and is a worthy winner.”

The Society of Petroleum Engineers and ICoTA event continues today at Aberdeen Exhibition and Conference Centre.

Flexible-pipeline designer and manufacturer Wellstream said yesterday it expected business in the second half of 2008 to be at least as good as in the first half.

It added: “Demand for our services remains robust and, despite current volatility seen in the oil price, we continue to have good long-term forward visibility on new projects.”

The firm has a £350million order backlog, but said a degree of market uncertainty had been introduced by general economic conditions and recent oil price movements, leading to a more cautious outlook for 2009.