Technology
Investing in and quickly applying new technology is a cornerstone of UKOG’s business strategy. Our approach is to seek out and work with companies that are developing new technologies in the oil and gas sector, particularly related to well completions and naturally-fractured reservoir stimulation. The goal is to be able to use technologies that can help deliver economic well rates whilst minimising operational footprints and environmental concerns.
Many international oil and gas companies are funding technology projects to help unlock oil from petroleum bearing formations of low permeability. A number of new technologies are now entering the market that might serve to stimulate naturally-fractured oil bearing geological formations, such as those UKOG produces from and explores for, in ways that are conventional and largely mechanical.
UKOG is actively evaluating these technologies given they could help to reduce the environmental concerns associated with the recovery of oil and gas production from onshore fields, while still providing economic production rates and recoverable reserves.
In particular, UKOG is working with two companies, Nutech and Schlumberger, who are leaders in the evaluation of oil reservoirs around the world. UKOG is working with Norwegian company, Fishbones AS, on their radial drilling and jetting technologies for naturally-fractured oil hosted geological formations such as Kimmeridge Limestones.
As described here, UKOG is working with Xodus Group on innovative facilities designs for the Kimmeridge Limestone naturally-fractured oil play in the Weald Basin, in order to minimise impacts on the environment and on local communities.
In summary, UKOG is willing to fund and work with the best technology companies and techniques in order to fully understand and add value to our assets.
