The main themes of the coiled tubing roundtable were summarised by Randall Kubota of Texaco in his closing address. He stressed that project testing, which currently accounts for 35% of the budget, must be vastly reduced if projects are to be cost-effective for the industry. Mr Kubota explained that this is possible if projects are co-ordinated through organisations such as the DEA, IADC and PSTI for testing support, funding, and potential JIPs.
Industry must rationalise new techniques with budget concerns to ensure the advancement of coiled tubing techniques; at present it is not uncommon for a project to be over budget by £1-2m. Mr Kubota congratulated the commitment of management and the 'dreamers of industry' who have created notions such as horizontal drilling and now coiled tubing.
During the event PSTI accepted the invitation to make the PTERIS Technology Award for ensuring information on new technology is widely disseminated throughout the industry. The award entries were judged by a panel of industry representatives on the following criterion:
Of the seven entries for the award the panel of industry representatives (David Lord of Shell UK E&P, Neil Fowler of Enterprise Oil Plc, Ian Phillips of MAI Consultants, Graham Stewart of PSTI, Charlie Leslie of BP Exploration Ltd, John Ford of Heriot Watt's Dept. of Petroleum Engineering) chose Transocean Petroleum Technology's Coiled Tubing Intelligent Drilling System. The award was presented on behalf of PSTI by Don Hynek, the Europe General Manager for Asset Management of Texaco and a member of the PSTI board.
For further information contact Joanne Milne, [Tel: 01224 706600. Fax: 01224 706601]
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