Bosses at oilfield services firm Tendeka are toasting new international contracts worth more than £22 million for work over the next three years.
On top of this “unplanned revenue”, the company has also won long-term worth work with operators using its swellable packers – isolation devices that rely on elastomers to expand and form a seal when immersed in certain wellbore fluids – and technologies for sand and inflow control.
These are being used in key energy hubs including the North Sea, Australasia and the Middle East.
Orders flowing in from the US
In addition, Tendeka, which has its headquarters in Westhill, near Aberdeen, is delivering its first “significant” orders for its FloSure autonomous inflow control devices (AICDs) in the US, following a successful trial earlier this year.
The AICDs remove unwanted produced fluids, while promoting the production of oil from the entire length of the well.
According to Tendeka, this leads to increased oil recovery and less gas production.
The company has installed more than 50,000 of its FloSure AICDs around the world to date.
‘Uncertain time for the sector’
Chief executive Brad Baker said: “To secure a number of multi-year, international agreements is always satisfying, but even more so with what the industry has been going through over the last 18 months.
“It has been an uncertain time for the sector but, due to the hard work of our team and our investment in technology, we have forged even stronger relationships with our global customers to enhance their operations.”
Tendeka’s success at securing new sand and inflow control technology contracts this year “cements our position in the market” as an industry leader, Mr Baker added.
To secure a number of multi-year, international agreements is always satisfying, but even more so with what the industry has been going through over the last 18 months.”
Brad Baker, chief executive, Tendeka
The firm is also the developer of the PulseEight “dynamic” downhole reservoir management system, which it says is “the world’s first re-deployable wireless completion with control, power, monitoring and communications already on-board”.
Tendeka was founded in 2009 through a merger of three companies under the Shell Technology Ventures umbrella – Sensornet, Swellfix and Well Technology – and the acquisition of two other businesses.