HOUSTON, February 24, 2003 - - Weatherford International Ltd. (NYSE: WFT) today announced its first successful installation of a four zone Simply Intelligent completion system for Brunei Shell in the Bugan field.
Weatherford's hydraulically controlled and actuated system, which will be operated from an unmanned satellite platform positioned in 131 feet (40 m) of water depth, allows remote flow control of the producing intervals. It includes feedthrough packers, ROSS (TM) remotely operated sliding sleeves, and an HCAU Hydraulic Control Addressing Unit that minimizes the number of control lines required to be run to surface. The hydraulic flow control and packer system also was interfaced with multizone pressure temperature gauges and distributed temperature sensing.
The overall well objective was the immediate adjustment of zonal production to manage unwanted water ingress. The combination of permanent monitoring and surface actuated flow controls allows this to be achieved in a much more timely and cost-effective manner than when compared to traditional techniques.
" This installation is the culmination of an immense team effort by our own people, third-party vendors and our client. Weatherford is keen to acknowledge the energy and talent of everyone involved in this project. Without their support, this would not have been possible," said Stuart Ferguson, President, Weatherford Completion Systems.
" We were pleased with several aspects of this installation, including Weatherford's fit-for-purpose system, the teamwork shown by all parties involved and the actual execution of the job," said Carlos Glandt, Global Implementation Manager for Smart Wells at Shell International E&P.
The Bugan installation is a major milestone in Weatherford's drive to rapidly commercialize its Simply Intelligent systems. Weatherford's aim is to expand the applicability in the market of intelligent well flow control systems by addressing the historical technology adoption barriers of cost, complexity and reliability.
Weatherford is a recognized leader in intelligent completion technology. HydrOptics (TM), Weatherford's technology platform, couples optical sensing technology with hydraulically actuated flow control systems to allow real-time production optimization and life-of-field reservoir management. Optical permanent monitoring systems are recognized for simplicity, reliability, longevity and the ability to upgrade easily as technology advances.
Weatherford is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs approximately 15,000 people worldwide.
For further information contact:
Christine McGee (713) 693-4362 christine.mcgee@weatherford.com
Don Galletly (713) 693-4140 don.Galletly@weatherford.com