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Press release content from Business Wire. The AP news staff was not involved in its creation.

Saudi Aramco Technologies Company and AccessESP Announce Worldwide Commercialization Agreement of Game-changing Flowback and Well Cleanup Solution

July 14, 2021 GMT

DHAHRAN, Saudi Arabia--(BUSINESS WIRE)--Jul 14, 2021--

Saudi Aramco Technologies Company and AccessESP are pleased to announce that they have signed a worldwide commercialization agreement of the JumpStart™ flowback and well cleanup service. The JumpStart service utilizes a temporarily deployed, through-tubing electric submersible pump (ESP) system to rapidly, safely and efficiently flow back and clean out oil and gas wells after drilling or workover operations. Implementations in offshore wells in Saudi Arabia demonstrate lower risk, reduced rig time and increased production.

Abbas Al-Ghamdi, CEO, Saudi Aramco Technologies Company, commented, “We are delighted to have established this important collaboration with AccessESP. The ability to use a slickline retrievable downhole pump to remove heavyweight kill fluid prior to production significantly reduces rig time and risk. The additional benefits of carbon emissions reduction and cost savings promise to improve well economics for many high-value wells worldwide. We have great faith in AccessESP in the successful commercialization of JumpStart.”

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“We are grateful to Saudi Aramco Technologies Company for choosing AccessESP to commercialize JumpStart technology to flow back wells in half the time of conventional coiled tubing and nitrogen injection operations,” said David Malone, CEO, AccessESP. “Cleanups using nitrogen via coiled tubing are costly, require a large equipment footprint and introduce safety and logistics risks. The temporary deployment of a rigless ESP for cleanout saves millions of dollars in well cleanup expense, while preparing the well for a rigless ESP installation in the future if required.”

The patent-pending method of temporarily deploying a fully retrievable through-tubing ESP system has demonstrated up to 50 percent reduction in the rig time required for flowback and cleanout operations versus conventional coiled tubing/nitrogen lift cleanouts. In addition to reductions in rig time this technique significantly reduces the number of personnel and the equipment required to perform a cleanout. This technology is licensed to AccessESP by Saudi Aramco Technologies Company for worldwide deployment in onshore and offshore wells.

AccessESP delivers advanced technologies that help oil and gas operators reduce intervention costs, maximize well productivity and enhance reservoir recovery rates by achieving the technical limit in ESP performance. AccessESP technologies are proven to reduce risk and lower total cost of operations in high-value offshore and onshore wells. Operators who partner with AccessESP benefit from exclusive access to JumpStart services to fast-track adoption of game-changing technologies that reduce greenhouse emissions through the company’s GoGreen™ initiative.

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Saudi Aramco Technologies Company is a wholly owned subsidiary of Aramco, a world leader in integrated energy and chemicals, driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s crude oil supply to developing new energy technologies, our global team creates positive impact in all that we do. We focus on making our resources more sustainable and more useful, which promotes long-term economic growth and prosperity around the world.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210714005800/en/

CONTACT: William Standifird

VP Sales & Marketing

AccessESP

+1 (713) 589-2599

info@accessesp.com

accessesp.com

KEYWORD: MIDDLE EAST SAUDI ARABIA

INDUSTRY KEYWORD: ENERGY OTHER MANUFACTURING MANUFACTURING OIL/GAS

SOURCE: AccessESP

Copyright Business Wire 2021.

PUB: 07/14/2021 01:56 PM/DISC: 07/14/2021 01:56 PM

http://www.businesswire.com/news/home/20210714005800/en