Offshore staff
ABERDEEN -- Upstream private equity investor Epi-V is backing a new company called Scarlet, which has invented a novel sand control system to help optimize oil and gas well production.
The system features inflow control technology which uses hydraulic force applied from the surface to change the shape of pressure chambers within the screen sections.
Epi-V claims that the new screen provides higher flow rate capability, much improved collapse resistance, and a lessened installation risk due to surface activation.
The inventor is Paul Metcalfe, who is known in the industry for designing and commercializing various expandable pipe technologies.
Epi-V agreed to invest capital to support the engineering development, proof of concept and full commercialization stages.
Scarlet has established an office and product development facility in Aberdeen, and has recruited managing director Steve Bruce, formerly with Schlumberger, PSL, and Expro.
The company estimates the market for sand screen technologies at over $916 million, with growth of around 11% a year.
Bruce commented: “The industry has been relatively slow to take up novel sand screen technologies due to their complexity. Scarlet’s straightforward, low risk solution has a simple installation process, offers significantly improved collapse resistance, and will demonstrate a step change in well design for sand control which is badly needed by the industry.”
4/29/2010