TRONDHEIM, Norway--(BUSINESS WIRE)--Verdande Technology has been awarded a contract for the deployment of its DrillEdge™ technology for Petroleum Development Oman (PDO). Under the terms of the agreement, the DrillEdge software will be available for deployment on all of the 36 rigs currently working for PDO.
“This full scale deployment will deliver great benefit to PDO who are looking to drive operational efficiencies and improve drilling performance by reducing non-productive time,” said Lars Olrik, Chief Executive Officer of Verdande Technology. “We are proud to be working alongside PDO who have been great supporters of our DrillEdge technology from day one.”
The deployment follows field trials where DrillEdge technology was used to identify and avoid wellbore stability issues which previously led to stuck pipe. By using the technology, PDO was able to take corrective action and remediate wellbore conditions resulting in a successful completion of the hole section and subsequent casing run.
PDO intends to utilize the DrillEdge technology both at the rigsite and remotely from office locations. This collaborative deployment is designed to improve rig-to-office communications while strengthening the decision making process.
About Verdande Technology
Verdande Technology AS was founded in 2004 by a group of professors and students at the Norwegian University of Science and Technology (NTNU) in Trondheim. The technological platform for the products use the so-called CBR methodology (case-based reasoning), and is based on research from NTNU. Verdande Technology is headquartered in Trondheim, Norway, with regional offices in Houston, TX and Abu Dhabi, UAE. The company remains privately funded by Statoil Venture/ProVenture Seed AS, Investinor, founders and employees. DrillEdge technology is a trademark of Verdande Technology AS.