Red Spider lines up subsea intervention assignments

March 12, 2012
Red Spider has won a $2.35-million order to provide new products for well completion operations.

Offshore staff

ABERDEEN, UK – Red Spider has won a $2.35-million order to provide new products for well completion operations. The company will supply its eRED-FB systems for deployment this summer in the UK North Sea. The equipment will be used for a series of subsea dual ESP wells.

eRED, Red Spider’s tool for remotely operating downhole valves, has been used by more than 20 operators. The company claims the technology cuts risk and helps maximize production time by removing wireline runs from operations.

It can save operators more than £300,000 ($468,000) during a single subsea completion operation, the company adds, typically reducing slickline runs from eight to one. In deepwater workover operations, savings of up to 36 hours and £500,000 ($780,000) have also been recorded in a single job.

eRED-FB valves provide a downhole barrier that can be opened and closed by remote command, allowing the tubing integrity to be tested without the need for conventional plug and prong equipment. This eliminates the necessity to deploy traditional wireline methods.

3/12/2012

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