Welltec Corporation announce the award of a direct, four year contract from Ecopetrol Colombia for the supply of Well Tractor® conveyance and Well Cutter services. The initial contract value is in excess of five million USD with options to increase as required.
"Ecopetrol (NOC) Colombia is focused on exploration and development of assets in Colombia. Ecopetrol is developing a campaign of drilling horizontal wells in several of its main fields in which the use of tractor technology represented significant savings in rig time and minimized risk by avoiding pipe operations. With the new contract we expect to continue having the benefits of using tractors as well as to introduce the use of non-explosive cutters, particularly due to regulations in Colombia for explosives transportation." stated Diana Patricia Chaparro Corredor, Leader of Reservoir Optimization Group.