The CPA awarded to Accell enables Aramco to efficiently procure InflowControl’s patented AICV® technology to support the reduction of unwanted water and increase of net-oil from their onshore and offshore wells.
“It has been over 12 years since we began our journey with Aramco, and more than 9 years since our first well was installed in The Kingdom,” said Dr. Vidar Mathiesen, CEO of InflowControl. “We are grateful to Aramco for establishing this CPA to accelerate the procurement process which will enable us to supply equipment for the assets faster. Our technology has evolved significantly over the past 10 years, and we have Autonomous Inflow Control Valves suitable for nearly all assets in Aramco’s portfolio. We look forward to continuing to support Aramco over the next 10 years and want to thank them for their trust and support.”
“This agreement not only strengthens our partnership with Aramco but also highlights our commitment to delivering advanced technologies that enhance oil recovery and operational efficiency,” said Hatem Balghoneim, CEO of Accell. “InflowControl’s innovative solutions have consistently proven their capabilities, allowing us to tackle complex challenges effectively. We are excited to be part of this journey and look forward to a fruitful collaboration that drives innovation and sustainability in the energy sector.”
InflowControl is a Norwegian technology company, founded in 2011 and is the inventor of the proprietary AICV® (Autonomous Inflow Control Valve) technology which improves oil production by reducing unwanted water and gas breakthrough. This enables oil fields to be more productive by supporting oil production from zones that would have typically been bypassed. AICV® technology utilizes the viscosity and density contrast of the reservoir fluids to improve net-oil production which also enables lower CO2 emissions per barrel of oil produced.
Through strategic collaborations with global technology developers and service providers, Accell ensures the smooth integration and effective deployment of innovative technologies within the rapidly evolving energy landscape of Saudi Arabia.
This article was originally posted at www.worldoil.com
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