> Welltec:
Building on a Heritage of Innovation to Drive Efficiency and Sustainability Since Welltec was formed 25 years ago, its mission has been to increase operational efficiency and quality, and to improve safety and sustainability in the oil and gas sector.
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hose early sentiments and that commitment to innovative thinking – which did not typify the industry standard of the time – remain embedded in the Welltec company culture. Continual improvement is still the game plan. The company grew from the vision of founder Jørgen Hallundbæk and his ideas first outlined in his thesis for the Technical University of Denmark back in 1987. He focused on oil and gas well interventions, and from his dedication and study emerged the Well Tractor, an innovation that has transformed the industry. When it was first introduced to the market, the tractor enabled interventions that had never been possible before. Its importance to the industry hinged on its ability to use remedial tools in horizontal and highly deviated wells without the use of heavy equipment.
Founder and CEO: Jørgen Hallundbæk
The Well Tractor differed from previous intervention technologies in that it is run on electric line – but could be configured to be as short as three metres, or 10 feet. This meant that the device could be transported by helicopter for rapid mobilisation, significantly reducing the personnel-and-equipment footprint that was often required for clumsier intervention methods. The innovation allowed oil companies to change their strategies based on a new paradigm, resulting in substantial cost savings as well as increased recovery from their wells. In a continued spirit of innovation, Welltec recently launched a series of well-completion products to complement its range of intervention services – which have also been engineered to reduce the environmental footprint. Several operators have witnessed substantial reductions in CO2 and methane emissions within a short period of time. The oil and gas sector is traditionally riskaverse, and it has long sought an alternative 58
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