Wavefront Prequalifies EOR Technology in Malaysia
Malaysia’s national oil and company will employ the technology suite in secondary recovery and well stimulation. The deal follows the service provider’s recent agreements in the Middle East.
Canadian oilfield service provider Wavefront Technology Solutions announced on 14 December the prequalification of its Powerwave product line in Malaysia.
Wavefront Malaysia is now a key contractor for Malaysia’s national oil company (NOC), which allows the NOC and its 23 operating companies to employ the technology suite for secondary oil recovery (waterflooding) and well stimulation.
Producing over 1.5 million BOEPD, Malaysia is a prime oil and gas producer in the Asia-Pacific region. It expects to use Powerwave to maximize profitability for both well stimulation and improved oil recovery/enhanced oil recovery programs.
“Wavefront has worked at length to secure prequalification with the NOC, and this recent decision was strongly based on the impressive track record Powerwave has generated globally and more specifically in the Middle East,” Wavefront President and CEO Brett Davidson said.
In September, Wavefront renegotiated and entered into a new, 2-year, exclusive distribution agreement in Kuwait with Gulf Drilling and Maintenance Co. GDMC holds exclusive rights to the company’s suite of well stimulation technologies for use in Kuwait, including the Al Khafji Joint Operations region, and will pay a minimum yearly aggregate amount of $900,000.
Another agreement made in September was with Saudi Arabia’s Synergy International Energy Co. Wavefront said in its announcement that within Saudi Arabia coiled tubing (CT) companies providing well services to the NOC are limited in their market access. No single CT company has access to all oil and gas fields or wells. As a result, the company had seen its product line activity decline under its past distributer, a CT company. The deal with Synergy as a nonexclusive distributor is aimed at reducing reliance on any one CT company and increase market penetration in Saudi Arabia by accessing all 13 registered CT companies providing oil and gas well stimulation services to the NOC and across all oil and gas field assets.