Tracerco sees a record number of contract wins helping operators to optimise recovery as global oil and gas markets recover.
Tracerco, part of Johnson Matthey Plc, has reported it has secured and is delivering a significant and growing project pipeline for the year ahead across both its conventional and unconventional reservoir technology portfolio.
Designed to provide critical insights on oil, gas, CO2 and water flow from respective wells, Tracerco’s innovative tracer technology uses chemical tracers and is a highly cost-effective alternative to well intervention, with the ability to be deployed with zero interruption to well productivity.
Currently in operation across thousands of wells throughout the world, the technologies have assisted oil and gas companies to continuously monitor their reservoirs, as well as optimise drilling, completion, and oil development techniques to ultimately maximise oil and gas production.
Speaking about the projects, Tracerco’s Director, Paul Hewitt said: “As oil and gas companies have faced increasing uncertainty over the past decade with unstable oil prices driving the need to streamline and increase operational efficiencies, the industry has had to embrace technologies to reshape their operating landscape.
“Our tracer technologies have supported oil and gas companies to do exactly that and ultimately improve productivity. This is why we have seen such a surge in demand for our proven industry first technologies. Our clients can rest assured that using flow insight they will be able to confidently make faster and smarter critical field development decisions.
“With an impressive client portfolio and proven track record over the past 30+ years, we have a very strong project pipeline, and we look forward to continuing to support our customers to the very high standards Tracerco is known for.”
With a wealth of experience in delivering successful global projects, the company has most recently provided its proprietary inflow and interwell tracer technologies to a customer in West Africa. It has recently helped to maximise recovery in a large oil field located in Brazil and provided insight to a multitude of smaller operators across North America involved in unconventional field development.
Tracerco is a global oil and gas service company with over 60 years’ experience. With offices located across the world, the company is well recognised for delivering innovative technologies enabling its customers make informed decisions.