Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Risk investment for quicker, cheaper drilling

06.04.2006


The development of a new innovative drill bit could change the way in which oil and gas exploration and production takes place, thanks to support from NESTA (the National Endowment for Science, Technology and the Arts).



Bristol-based Meciria have received a £300,000 investment from NESTA and Oxford Technology VCT.

Directional drilling, or targeting a particular area to avoid difficult drilling conditions, can be undertaken by one of two methods, positive displacement motor (PDM) and rotary steerable tool (RST).


Although PDM is the cheaper and more reliable of the two options, RST is twice as fast. Meciria has worked on developing the design of the RST for increased reliability and decreased operating costs.

Richard Hutton, Chief Executive of Meciria, explains more:
“The investment from NESTA and Oxford Technology will enable Meciria to further develop its innovative rotary steerable drilling tool. This technology will enable oil companies to drill quicker and further to reach the hydrocarbon reserves while reducing rig operating and redeployment costs and risks. Meciria is delighted to have the investment and active support from both Oxford Technology and NESTA.”

Mark White, Director of Invention and Innovation at NESTA said:
“Meciria’s design of the rotary steerable tool drill bit is a welcome burst of engineering innovation in this burgeoning market. By supporting Meciria’s product at this early stage in its development, NESTA are ensuring that innovations in this industry have every chance of being fully commercialised in the UK.”

Joseph Meaney | alfa
Further information:
http://www.nesta.org.uk

More articles from Business and Finance:

nachricht Preferential trade agreements enhance global trade at the expense of its resilience
17.02.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Breakthrough with a chain of gold atoms

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

Im Focus: DNA repair: a new letter in the cell alphabet

Results reveal how discoveries may be hidden in scientific “blind spots”

Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send “repair-proteins”...

Im Focus: Dresdner scientists print tomorrow’s world

The Fraunhofer IWS Dresden and Technische Universität Dresden inaugurated their jointly operated Center for Additive Manufacturing Dresden (AMCD) with a festive ceremony on February 7, 2017. Scientists from various disciplines perform research on materials, additive manufacturing processes and innovative technologies, which build up components in a layer by layer process. This technology opens up new horizons for component design and combinations of functions. For example during fabrication, electrical conductors and sensors are already able to be additively manufactured into components. They provide information about stress conditions of a product during operation.

The 3D-printing technology, or additive manufacturing as it is often called, has long made the step out of scientific research laboratories into industrial...

Im Focus: Mimicking nature's cellular architectures via 3-D printing

Research offers new level of control over the structure of 3-D printed materials

Nature does amazing things with limited design materials. Grass, for example, can support its own weight, resist strong wind loads, and recover after being...

Im Focus: Three Magnetic States for Each Hole

Nanometer-scale magnetic perforated grids could create new possibilities for computing. Together with international colleagues, scientists from the Helmholtz Zentrum Dresden-Rossendorf (HZDR) have shown how a cobalt grid can be reliably programmed at room temperature. In addition they discovered that for every hole ("antidot") three magnetic states can be configured. The results have been published in the journal "Scientific Reports".

Physicist Dr. Rantej Bali from the HZDR, together with scientists from Singapore and Australia, designed a special grid structure in a thin layer of cobalt in...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Booth and panel discussion – The Lindau Nobel Laureate Meetings at the AAAS 2017 Annual Meeting

13.02.2017 | Event News

Complex Loading versus Hidden Reserves

10.02.2017 | Event News

International Conference on Crystal Growth in Freiburg

09.02.2017 | Event News

 
Latest News

Switched-on DNA

20.02.2017 | Materials Sciences

Second cause of hidden hearing loss identified

20.02.2017 | Health and Medicine

Prospect for more effective treatment of nerve pain

20.02.2017 | Health and Medicine

VideoLinks
B2B-VideoLinks
More VideoLinks >>>