Entrepreneurs Bruce Cardno and Paul Ray set up Clearwell Technology to develop their thermal milling technology, Therm-X-Mill®, and transform the current methods of oil and gas well decommissioning by eliminating the use of drilling rigs and their associated equipment.
SMART:Scotland grant funding of £84,000 from Scottish Enterprise helped Clearwell Technology perform a testing programme.
The company is now looking ahead to the next stage of development which will involve further testing, development of a prototype tool and field trials prior to full-scale commercialisation.
Scottish Enterprise head of low carbon transition Andy McDonald said: “Evidence from industry reports highlight that the decommissioning market is growing, especially as more focus is spent on energy transition activities and less on drilling new wells.
“This creates opportunities for companies like Clearwell Technology to provide decommissioning technology that will help aid the wider global energy transition agenda and it is fantastic to see a company from Aberdeenshire take forward this innovation.”
Bruce Cardno Director of Clearwell Technology said: “As energy companies focus on transition our technology aims to make the oil and gas well decommissioning process simpler and more environmentally friendly, whilst also releasing resources to drive net zero projects in the industry.
“Almost half the cost of any decommissioning project is spent on the plugging and abandonment of the wells so by reducing this cost with our Therm-X-Mill® tool we aim to transform the industry’s approach.”
Mr Cardno said: “We are ramping up our testing from our site in Aboyne as we progress towards prototype development so this is a really exciting time for us, and we are hugely thankful for the support from Scottish Enterprise to help drive our technology.”
Find out more at www.clearwelltechnology.com