The AX-S system, a world first in light well intervention, is to be the topic of discussion at a major oil and gas industry event in Aberdeen next week.
Following over £120million of investment and eight years of research and development, the AX-S well intervention system used remote-controlled subsea tools and was the first technology in this field that could be deployed from a construction vessel and operate in depths of up to 10,000ft. The business which developed the system subsequently went into administration on 1 September 2012, with the loss of 40 jobs.
Andrew Reid, Group CEO at Douglas Westwood, a leading provider of business strategy, research and commercial due-diligence services to the energy sector, will give an in-depth analysis of the AX-S case study during his keynote address at the 19th SPE ICoTA Well Intervention Conference and Exhibition.
Mr. Reid will examine the technical successes and challenges faced by the company and partners which developed the AX-S system.