Sensornet and Aker Solutions announce master service agreement
Released on: August 28, 2008, 4:31 am
Press Release Author: Sensornet
Press Release Summary: Sensornet, the global provider of the most advanced monitoring solutions and the Aker Solutions subsidiary, Aker Well Services AS, have signed a Master Service Agreement (MSA) to provide an enhanced well intervention flow profiling service to the global oil and gas market over a period of three years. The agreement is potentially worth more than £2 million (NOK 20 million).
Press Release Body: Sensornet, the global provider of the most advanced monitoring solutions and the Aker Solutions subsidiary, Aker Well Services AS, have signed a Master Service Agreement (MSA) to provide an enhanced well intervention flow profiling service to the global oil and gas market over a period of three years. The agreement is potentially worth more than £2 million (NOK 20 million).
Aker Solutions' well service unit will utilise its class leading logging, tractor and well control expertise to deploy Sensornet's range of FibreDipT optical cables across the reservoir section.
Sensornet's FibreDipT intervention system provides real-time quantitative information of distributed flow profiles in multilayered oil and gas wells. Prior to production, this information provides the operator with increased certainty of fluid placement efficiency during acid stimulation, scale squeezing, polymer flooding and fracturing. FibreDipT is an excellent tool for retrofitting into wells along with other logging tools to provide enhanced production data and condition checking of well-bore infrastructure.
Aker Solutions is the leading well service solutions provider of wireline, tractor and cased hole logging services to the oil and gas industry. The company specializes in mechanical wireline operations and data acquisition with all cable sizes and has developed its own state-of-the-art wireline tractor technology, called Power Trac Advance®, which has proven reliability in the field, enabling cost-efficient well interventions.
Neil Meldrum, Sensornet's Vice President Europe, FSU & Africa, said: "Combining the two complementary strengths of the well intervention service from Aker Solutions and Sensornet's market leading distributed flow profiling, will bring our customers a vital tool to increase production efficiency and reduce operating costs. We look forward to a very successful partnership where the benefit will be transferred to the major oil and gas regions."
Ida Hassan, Vice President Aker Well Service Operations with Aker Solutions, said: "The agreement between Aker Solutions and Sensornet is the beginning of an exciting opportunity for all involved to learn from each others' technical expertise. We look forward to working with the Sensornet team to deliver an innovative service to the oil and gas market which is demanding a proven, cost-effective solution to effectively analyze and monitor well conditions in real-time."
Launched in 1998, Sensornet provides the world's most advanced asset monitoring solutions, using real-time distributed temperature and strain measuring systems. Sensornet provides the complete Digital Monitoring package to the global oil and gas industry, and offers its own temporary and permanent DTS installation capability. The company is rapidly expanding and has offices based globally in Europe, North and South America, the Middle East and Asia.
Sensornet's award winning technology is supported by a highly qualified and experienced technical, operations and management team, which has provided multimillion dollar turnkey solutions to many of the world's leading blue-chip companies. From system engineering and design, to data interpretation services and post delivery support agreements, Sensornet is a full solution provider. www.sensornet.co.uk
About Aker Solutions
Aker Solutions ASA, through its subsidiaries and affiliates (\"Aker Solutions\"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions\' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions\' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 24 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.
Neil Meldrum, Sensornet - firstname.lastname@example.org, +44 1224 238 973 Ida Hassan, Aker Well Service AS - email@example.com, +47 98 29 65 14