OIL and gas body the Intervention and Coiled Tubing Association (ICoTA) has named the finalists for an award which recognises the technological achievements of oil and gas firms.
ICoTA said the entrants for its European Chapter Innovation Award had been whittled down to a shortlist of five: Petroleum Technology Company, Oilenco, Schlumberger, BP Exploration and Production and Red Spider.
To be considered for the prize, the nominees demonstrated how new or existing technologies had been applied in innovative ways to add value to the industry through their ability to reduce risk, increase recovery, improve safety or minimise environmental impact.
The winner will be announced at the Society of Petroleum Engineers and ICoTA European Well Intervention Conference in Aberdeen on Tuesday, November 15.
ICoTA Europe chairman Rob Grassick said: ‘This award really highlights the many exciting new technologies being deployed in well intervention and the existing technologies being used in an innovative way.
“To stay at the top of the game in our industry, it is crucial to be equipped with the advanced technologies, information and industry know-how that enables us to enhance operations and reduce costs.
“The commitment, dedication and expertise we have seen in the entries is to be commended.”