There is no doubt that the last three years have been tough for the oil and gas industry.
However, new technology is bringing promise to the sector. According to Oil and Gas UK’s Vision 2035, collaborative working between companies to drive new technologies will ensure the industry remains successful for decades to come.
Hunting’s answer to this challenge is the recently launched Hunting TEK-HUB. The TEK-HUB is based on a collaborative model, working closely with third-party intellectual property to bring new equipment designs and innovative technologies to market under licence. Each product entering the TEK-HUB passes through a four-stage process to evaluate new technologies and maximise commercial value.
Located at Hunting’s facility at Badentoy, Aberdeenshire, TEK-HUB partners will have access to a regional centre of excellence which boasts a 1,259sq m office and specialised workshops, as well as a review team made up of key individuals boasting technical, business and industry expertise.
The TEK-HUB is a way to introduce new sources of technology to international markets and sends a powerful message of Hunting’s continued commitment to the United Kingdom’s continental shelf and its enhanced capability to support innovators in Europe and further afield.
Bruce Ferguson, managing drector at Hunting, said: “Hunting is delighted to launch the TEK-HUB and act as a test-bed for the development and deployment of new technology.
“Hunting continues to meet the challenges encountered by the industry, with TEK-HUB encouraging investment and collaboration in technology and signalling the company’s commitment to the
“Input to the TEK-HUB can come from both inside and outside Hunting. It is essentially open for business from any source, though projects submitted so far have been primarily from external innovators and small enterprises.”
OOR – The first successful TEK-HUB product launch
Following the signing of a collaboration agreement between Hunting PLC and US-based enhanced oil recovery company Titan Oil Recovery Inc earlier this year, Hunting is now successfully progressing Organic Oil Recovery (OOR) technology within the UKCS, Europe and Asia-Pacific.
The agreement saw Hunting add OOR to a growing list of Hunting TEK-HUB products and technologies that are focused on enhancing production.
The OOR process is a unique, low-cost form of microbial enhanced oil recovery which can optimise reservoir performance and recovery rates. The process involves stimulating the growth of native microbes in producing reservoirs, allowing oil to move more freely.
OOR can significantly increase daily oil production within two weeks and extend the life of a mature field or re-start shut-in wells. OOR can be applied at a fraction of the cost of alternate
Enhanced Oil Recovery (EOR) technologies and requires no additional infrastructure.
The technology has been used in more than 300 wells to date, with an increase in production averaging 92%. OOR can also demonstrate significant side benefits such as reducing H2S.
Mr Ferguson said: “Organic Oil Recovery has received significant interest since it was taken to market, particularly the organic properties of the technology.
“According to BP’s Technology Outlook for 2018, technology continues to develop for improved and enhanced oil recovery. It is estimated that enhanced oil recovery could deliver around 500 billion additional barrels of oil by the year 2050.
“A number of major operators are already utilising this technology and we are in advanced discussions with many more.”
Titan Oil Recovery founder and chairman Ken Gerbino added: “OOR technology can significantly improve reservoir performance and we are seeing the benefits of collaborative working with a company like Hunting.”
For more information on Hunting’s TEK-HUB or Organic Oil Recovery technology contact firstname.lastname@example.org or visit www.huntingtek-hub.com