REVIVAL focuses on the problem of maximising recovery of oil from wells and prolonging their productive life; a commercial imperative for the industry and a response to EU policies to secure Europe’s energy supply in respect to oil.
Globally only 32% of available oil reserves are extracted from oil fields. A 5% increase in the recovery factor would yield as much oil as is expected from all future exploration efforts.
The reason for low recovery rates is the breakthrough of water or gas in the well. The industry has addressed this by developing inflow control devices (ICD & AICD) that choke oil production both at start up and when gas or water incursion occurs; but do not stop these entering the system.
Our innovative solution utilises the properties of fluid dynamics to create an Autonomous Inflow Control Valve (AICV) that, whilst remaining simple in concept, eliminates the weaknesses of AICD and ICD products. By comparison, proof of concept tests on our AICV show it will increase recovery, does not choke initial oil production, can stop gas and water completely, is autonomous, reversible, reliable and price competitive.
We have established the concept, but still face significant technical challenges which we need to outsource to specialist R&D partners. These involve developing an innovative laminar flow element, filters and seals that can withstand the harsh environments in wells.
REVIVAL enables our SME partnership to create a novel, highly differentiated, validated pre-production prototype that can be quickly commercialised post project completion, providing outstanding benefits for our own organisations, our oil company clients, national government exchequers and Europe as a whole. It responds to competitive threats we as SMEs face.
The primary market are oil company clients are receptive to a solution. The known market potential is €224 million within 5 years of project completion. Secondary markets exist in environmental protection from oil spillages.
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