Geosplit, Portfolio Company of RUSNANO Sistema SICAR Fund, to Test 10 Gas Wells in China
The Russian oil services company Geosplit has successfully completed laboratory testing in China of a new technology for the long-term monitoring of gas wells, and has signed a memorandum of understanding with the largest private oil services company, Anton Oil, on the implementation of a pilot programme to test 10 gas wells in 2019.
In accordance with the work programme, long-term testing of 10 gas wells will take place after multi-stage hydraulic fracturing in which quantum markers developed by Geosplit will be used to diagnose the profile of leaks without recourse to downhole operations.
Geosplit research laboratory
Geosplit has developed a new technology—gas markers which can provide a continuous inflow of data on the productivity of well intervals on multiple occasions over a period of several years without the need to pause or alter the operation of the well. The technology developed by Geosplit can be used to digitise the gas deposit, and by using Geosplit’s data in conjunction with geological information it is possible to increase efficiency not only for specific wells but for the deposit as a whole, while also resolving the issue of localisation of remaining resources.
China is currently prioritising the development of its own production capacity in the shale gas sector, and as a result the application of new technologies is a timely issue, and one in which there is a lot of interest. The new technical solution developed by Geosplit to test gas wells has proved its value in the Asian market.
Geosplit marker granulate
This is Geosplit’s second major project in China: earlier it signed an agreement with the oil service company Haimo to introduce a diagnostic marker system for oil wells, for CNPC, the Chinese national oil corporation.
Alexander Katashov, General Director of Geosplit: “Geosplit has invested a great deal in upgrading its existing products and services, and also in the development of new ones. Geosplit’s gas markers allow clients to carry out long-term regular monitoring of gas well productivity intervals, which is a major market segment for us. It is interesting to note that our Chinese clients are launching their pilot programme to test our gas well solutions before our Russian customers. We are very glad that our Asian partners appreciate the advantages of this innovative approach, both in technical terms, and in terms of the clear economic benefit to be gained from introducing Geosplit’s technology.”
Geosplit is a hi-tech full-cycle oil services company, which develops technical markers to assess conditions inside oil and gas wells for the oil industry. It is a resident of the Skolkovo Foundation.
The innovative GEOSPLIT® technology can diagnose and monitor horizontal well inflow profiles. The technology is based on quantum reporter markers®, and makes use of machine learning algorithms to automate the interpretation of well fluid analysis results.
The company’s main activities include: commercial research projects involving testing well inflow profiles, as well as R&D.
The RUSNANO Sistema SICAR Fund was established jointly by Sistema JSFC and RUSNANO. It invested $1.5 mln in Geosplit at the end of 2017.
For additional information, please visit www.geosplit.ru