Red Spider, a north-east technology specialist for the oil and gas industry, has announced the completion of 100 operations using its eRED tool.
The work involving remote open-close technology product eRED was in 30 fields in the UK, Norway, Australia and Equatorial Guinea.
This generated multimillion pound sales for Westhill-based Red Spider.
Chief executive Steve Nicol said yesterday: “ERED has had a major impact on establishing Red Spider’s reputation in the UK and internationally.
“The tool is incredibly flexible as well as reliable and has been used for a wide range of operations by 18 customers.
“ERED has allowed major operators to save more than £300,000 during a single subsea completion operation, typically reducing slickline runs from eight to one.
“In deepwater workover operations, savings of up to 36 hours and £500,000 have also been recorded in a single job, as well as major reductions in risk.”