Well-SENSE’s Fiberline Intervention (FLI) technology
Downhole technology specialist, Well-SENSE, announced today that it has
secured a seven figure equity investment from Saudi Aramco Energy Ventures (SAEV),
alongside its current owners, FrontRow Energy Technology Group and management.
The support of SAEV as a strategic investor will help Well-SENSE
accelerate the expansion of the business around the world, in particular adding
the Middle East to the company’s current North American focus. Building on a
track record of successful jobs, Well-SENSE is now investing in people and
infrastructure to support the commercialisation of its FiberLine Intervention
(FLI) technology.
The award-winning FLI has already received international recognition as
an innovation that provides an entirely new approach to well intervention. FLI
uses disposable tools and bare fiber optic line to capture and transmit high
definition, real-time data, which represents a fast, low cost, low risk
alternative to wireline logging.
Launched to market within the past year, FLI continues to enhance its
capabilities, recently introducing Active FLI – adding single point production
logging measurements to distributed sensing along the fiber.
Commenting on the investment, FrontRow CEO, Stuart Ferguson said: “We
are delighted to have a proven strategic and technology investor in SAEV,
working alongside us in Well-SENSE. I have worked with SAEV on other projects and
have seen for myself the benefits of their hands on approach.”
Mike Hill of Saudi Aramco Energy Ventures said: “FLI has been recognised
as having significant value potential for well intervention operations. We are very excited to be supporting
Well-SENSE in this phase of FLI’s commercialisation.”
Appointed in 2017, Well-SENSE CEO, Craig Feherty concludes: “Recent
expansion within the North American market is just one example of the growing
demand for FLI. Investment from SAEV marks the start of a major new phase for
us, as we look to deploy our evolving range of intervention tools within new
markets. This investment enables us to increase our capability to service new
markets with a broader range of solutions and applications.”
In addition to Well-SENSE, the FrontRow group of companies includes ClearWELL Oilfield Solutions, Well-Centric Oilfield Services and Pragma Well Technology.