A NEW north-east firm is today unveiling its completion technology equipment for the oil and gas industry.
Darcy Technologies is targeting a worldwide market worth hundreds of millions of pounds annually.
The Kintore company’s Critical Matrix Management system will be on show at a Society of Petroleum Engineers technical conference in Italy.
The technology, which has taken more than two years to develop, has initially created eight jobs at Darcy. The workforce is expected to grow to 20 by next summer.
Chief executive Steve Bruce said: “The Darcy system provides operators with a solution to the issues of near wellbore degradation and associated production issues which all too often become apparent over the productive life of the well.”
Specialist oil and gas investor Epi-V has supported the system’s development.
Epi-V partner Steve Kent said: “The industry has been relatively slow to take-up more innovative completion methods, frequently citing the issue of complexity as a barrier to adoption.
“However, the Darcy system provides a genuinely straightforward option that we believe will lead to a long overdue and badly needed reinvention in well design for sand control.
“That is why, along with other partners, we have committed a multi-million dollar investment to supporting the commercial growth of the business.”
Recommended for you
