Awarded funding for two products
WeST Group receive new funding from The Research Council of Norway for both the Continuous Motion Rig and SwarfPak milling tool.
“We've been fortunate at WeST Group that our core focus on product development receive such confident support” says WeST`s Founder and CEO, Odd B. Skjærseth.
Founder & CEO Odd B. Skjærseth in the control room of the test rig at Ullandhaug, Stavanger
A total of 17 projects in Norway was awarded funding from the DEMO 2000 programme in this round.
Two of them being from WeST Group.
The aim of funding from the DEMO 2000 programme is to reduce costs, cut emissions and create jobs. This correlates well with WeST`s mission. The added funding will be used to demonstrate the superior drilling performance of the Continuous Motion Rig, which provides a cost reduction by 30-50% for drilling related investments.
“As one of our partners for several years, we are delighted that The Research Council of Norway continues to support our products, technology and ideas. With additional support also from our other partners we are better equipped to increase our activity at the WeST test rig at Ullandhaug, Recruit talented engineers and continue to improve our core technology” says Skjærseth.
Praise from the Minister of Petroleum and Energy
The DEMO 2000 program is an initiative supported by the Ministry of Petroleum and Energy (MPE) in order to ensure long term competitiveness in the oil and gas business and continued profitable development of the petroleum resources of the Norwegian Continental Shelf.
Tord Lien, Norway`s Minister of Petroleum and Energy visited the Continuous Motion test rig in february. He was clearly impressed with the technology.
“The CMR- technology can contribute to substantial cost reductions related to drilling and down-hole activities. And there is no doubt that this technology has a clear export value" he said then.
Read the news article with Tord Lien
About the Continuous Motion Rig (CMR)
The Continuous Motion Rig is a new generation drilling rig with significant breakthroughs in drilling efficiency, CO2-reductions and safety for both well and personnel. The CMR makes it possible to do well construction without any interruptions in the drilling process. Pull drill pipe and run casing continuously with full circulation. The robotized rig concept is awarded and nominated for several innovation awards.
About SwarfPak milling tool
SwarfPak provides ultrafast milling with accurate precision. It`s a superior milling tool for P&A and slot recovery with significantly reduced rig time and reduced environmental footprint. The technology has been nominated and won several awards.