Skolkovo Resident Launched a Production Site in China
Innovative oilfield services company GeoSplit, a developer of marker downhole survey technologies for the oil and gas industry, has opened a production site in Henan province in partnership with Xinmi Wanli Industry Development Co., Ltd.
A line for the production of marked polymer-coated proppant and sand was launched. These flagship products of GeoSplit are widely demanded in the Chinese market and allow conducting well surveys after multi-stage hydraulic fracturing (MSHF).
Xiao Yi, director of business development at Wanli: “When GeoSplit approached us with a proposal for cooperation, we immediately found it interesting. Wanli, on the one hand, is a supplier of proppants, a key material for MSHF. On the other hand, we have always strived to expand our product portfolio through value-added innovation. GeoSplit's solution to integrate markers into the polymer coating of the proppant during MSHF is not only high-tech, but also very elegant. To organize long-term well monitoring, neither additional equipment nor a change in the design of the multi-stage hydraulic fracturing is required. This ease of implementation opens up opportunities for mass application. The availability of well surveys allows us to get much more data to help make decisions on production optimization, reduce drilling costs by up to 30% and increase the productivity of producing wells by 10-20%.”
China's production capacity is focused on exploration and development of deposits with hard-to-recover reserves. For such fields, mainly horizontal drilling and MSHF are used. The Chinese government actively supports the policy of introducing innovative technologies to increase the efficiency of production processes and encourages oil companies to strengthen their R&D efforts.
Mikhail Burenkov, Senior Project Manager of the Advanced Production Technologies Cluster at the Skolkovo Foundation: “For almost 10 years, GeoSplit has been a prominent representative of the Advanced Production Technologies Cluster and an ecosystem of developers of innovative solutions in the industry. Combining the efforts of specialists from different areas, the company creates high-tech and elegant solutions that are in demand all over the world. The opening of a production site in China demonstrates the high level of technology development and opens up new opportunities for partners conducting MSHF. Combining manufacturing capabilities and high-tech R&D results creates sustainability for businesses, especially in the energy sector.”
The pandemic has made certain adjustments in all spheres of life and industry.
Anna Belova, International Business Director at GeoSplit: “Despite the difficulties with logistics, we managed to launch a new production site together with Wanli. We see great prospects for the marker technology development business in China. The high interest in GeoSplit technology from the world's leading mining companies served as an impetus for the opening of the production site. With this solution, the company will be able to quickly offer innovative technologies to an ever-increasing number of customers in China as well as other Asian markets.”
GeoSplit has been successfully doing business in China since 2018. The technology has passed the first pilot projects and is now widely used in large fields in China, as well as in Russia, Saudi Arabia, the United Arab Emirates, Malaysia and India. Currently, more than 350 horizontal wells have been marked around the world.