Cornerstone Built on Reliability, Simplicity

Q: How do your technologies facilitate higher recovery rates without raising costs?

A: Welltec’s technology is based on simplicity and reliability, allowing us to accomplish the customer’s objectives using smaller tools and fewer personnel. Having a smaller footprint enables us to be nimble and more efficient to mobilize, rig up and the like, without reducing capabilities. Since we are smaller and faster, our services can be run more often, allowing customers to truly maximize the production from their assets, gaining a higher ROI. Also, our tools are diverse. We have a wide range of sizes and capabilities to bring to bear, not ”one size fits all.” And since we build our own tools they can be redesigned or customized for a specific purpose. We can offer a tailored fit to the client that can provide a huge impact on recovery over a shorter time.

Q: How does Welltec persuade PEMEX and similar companies to invest in preventive services?

A: Right now, most of the senior operations executives at PEMEX are seeking new solutions. It is difficult to change the culture in companies like PEMEX because to adopt a new technology the NOC needs to be sure that it works. Our first approach is to provide technical discussions and workshops. We invite clients to Mexican projects or to our HQ in Denmark so they can see the tangible benefits of our tools. Ultimately, everything is down to numbers. Especially with the budget cuts and PEMEX’s recent difficulties, the NOC must be acutely aware of any investment and be certain of the return this will provide. We have the ability to help design and analyze the interventions with PEMEX to demonstrate the benefits of what our technology can achieve and how that can be converted into direct savings over more traditional methods.

Q: What new technologies are you developing?

A: Welltec traditionally develops a new tool on a yearly basis. In 2016 the main development was casing cutting. Normally, these types of cuts are made by explosives and chemicals but Welltec has developed the ability to cut from small pipes all the way up to large pipes of different diameters without explosives, providing a safer environment and much faster mobilization. The technology is unique in that it can cut the pipes without having a rig on location to pull the pipe into tension before cutting. The cut is made quickly, on any state of pipe (tension, compression or neutral), leaves a clean, machined cut and can make more than one cut on each trip to the well. This technology won the OTC Spotlight on New Technology as well as a number of other awards because of its novel capabilities. Coming in 2017 is a whole host of new technologies including a nonexplosive punching tool to complement the casing cutting, new tools that will help fish dropped tools and objects from wells, easily retrievable plugs that can be set multiple times in the same run, improvements to real-time outputs and a new tool for scanning subsea risers. We are always busy.

Q: How do Welltec’s robotic solutions help raise safety standards in the industry?

A: A specific example is our ability to work — cutting pipes, for example — without using explosives. This immediately reduces risk of injury or accident on the wellsite or while traveling to the wellsite. Another important factor is that a military presence is required when using explosives. Our products do not need these kinds of additional precautions, which increases our efficiency to get to the job and get it done. In general terms we only need to send three pieces offshore: a container, a tool basket and a generator. Less equipment means there is less movement of equipment, which reduces risk. With fewer people involved in the process, communication and responsibility also are clearer, decreasing the risk of human error.

Q: Looking forward, how will Welltec balance its services between PEMEX and new private players?

A: At the moment we work exclusively for PEMEX. But we see some opportunities with the upcoming rounds to begin working with IOCs. We are already working for many of them elsewhere in the world so it makes sense for them to employ us in Mexico.