Schlumberger has formed a joint venture (JV) with Production Plus Energy Services to develop the latter’s HEAL System technology and business.
Under the terms of the agreement, the companies will jointly market the technology across North America, while Schlumberger will be its sole distributor outside the region.
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In April this year, an agreement was signed between Production Plus and Schlumberger to form JVs in Canada and the US.
Following the collaboration between the companies, Production Plus Energy Services is currently doing business as HEAL Systems.
HEAL Systems CEO Jeff Saponja said: “Producers are looking for proven solutions to reliably produce their wells as efficiently as possible over the entire production lifecycle. Our mission with the HEAL System is to deliver those solutions.”
The JV aims to offer producers global accessibility, improved quality control and assurance, as well as certainty regarding the beneficial capabilities of the HEAL System.
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By GlobalDataDuring the lifecycle of horizontal wells, it is reported that production requires complex and expensive artificial lift strategies.
The technology offered by the JV provides a solution to mitigate slug flow, which results in fewer artificial lift transitions while reducing production costs.
It offers a suite of products for the entire producing life of a horizontal well, including controlling frac flowback, extending the natural flow period, simplifying the transition between artificial lift phases, and reducing operating expenses.
Production Plus has a 50.1% interest in the JV entities, with Schlumberger holding the remaining interest.
HEAL Systems is an oil and gas production optimisation innovator that engineers and delivers production and artificial lift enhancing systems to oil and gas operators.
