Wavefront pushes oil well stimulation technology to Middle East markets
Wavefront Technology Solutions, a global fluid injection technology company for oil and gas well stimulation and improved/enhanced oil recovery, has updated its Powerwave activities in the Middle East.
Wavefront has been making progress in the marketing and branding of its core technology, Powerwave, in the Middle East over the past 18 months, the company said in a statement.
The benefits of Wavefront's efforts in the Middle East and the positive Powerwave performance are producing additional opportunities that are now being presented to the company.
Within the focus areas of the Kingdom of Saudi Arabia, Kuwait, Oman, and Bahrain, there are approximately 10,000 oil and gas and water injection wells applicable to well stimulation where Powerwave could be employed.
Wavefront was recently informed by a Middle East client group that the use of Powerwave during an acid well stimulation resulted in an overall cost savings of 30% related to chemical costs, reduction in acid storage tanks, reduction in acid mixing and pumping time, reduced consumption of diesel, and overall job optimisation.
Furthermore, the client group noted that the costs savings do not come at the expense of post-stimulation performance outcomes of the stimulated wells.
It has been observed that Powerwave provides for better and more sustainable post-stimulation performance compared to conventional stimulation approaches.
Based on the cost savings and associated Powerwave performance, Wavefront is hopeful that this client group, which represents only one of multiple production assets, will recommend Powerwave for all well stimulations involving the placement of acid to enhance production or injection.
"We are very optimistic about Wavefront's opportunities to expand the use of Powerwave in the Middle East," said Wavefront president and CEO Brett Davidson.
"Based on the magnitude of cost savings per stimulation and provided stimulation outcomes continue to remain positive, we are confident about a quick progression from Powerwave introduction to Powerwave commercialisation in the region,” he added.