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Eni Completes First ZEiTECS RIGLESS ESP Deployment Offshore Africa

Date : 04/27/2012 @ 12:14PM
Source : Marketwired
Stock : Eni S.P.A. (E)
Quote : 42.64  1.36 (3.29%) @ 4:02PM
Eni S.P.A. share price Chart

Eni Completes First ZEiTECS RIGLESS ESP Deployment Offshore Africa

Eni S.P.A. (NYSE:E)
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Eni (NYSE: E) and ZEiTECS announced today that together they installed the world's first offshore rigless/wireline retrievable ESP system for Eni Congo. The installation occurred earlier this month when the ZEiTECS Shuttle was successfully deployed with a Baker Hughes ESP system. This adds to the other firsts for ZEiTECS: RIGLESS ESP installations in Middle East (Oman, 2009) and Asia (Brunei, 2009).

Salvatore Pilone of Eni stated, "We are very excited about the potential economic benefit of applying this new technology in our fields. This technology is particularly suited for wells where accessibility, rig cost and safety are major concerns."

"Eni looks forward to a drastic reduction in the operating cost normally associated with frequent rig interventions to replace failed ESP systems. A rigless, fully retrievable ESP system will be the most important innovative artificial lift technology for the company," continued Pilon.

"This milestone continues to demonstrate ZEiTECS' position as the industry leader of rigless retrievable ESP systems and demonstrates the application for other offshore markets," said Greg Schneider, President and Chief Executive Officer of ZEiTECS. "With this technology, our customers can look forward to simpler and less costly ESP replacements, less production deferment and the elimination of the HS&E exposure associated with heavy workovers. Also, our customers can now think about preventative maintenance of their ESP systems, which was not an option with tubing deployed ESPs."

ZEiTECS also announced the commercial release of their Shuttle systems for 5-inch and 4 1/2-inch tubing sizes designed to address the complete range of customer requirements worldwide. Meanwhile ZEiTECS' game-changing DC-coaxial power-cable deployed ESP system (Nautilus), the next step in the evolution of ESP deployment methods, undergoes field testing in a customer well in West Texas. Both new products are consistent with ZEiTECS' strategy to facilitate deployment of standard, readily available ESP system components (pumps, seals and motors) from any ESP manufacturer.

The ZEiTECS Shuttle technology permits the rigless retrieval and redeployment of conventional electric submersible pump systems through production tubing by means of standard oil field wireline, rod or coil tubing technology. The use of this technology increases hydrocarbon recovery, optimizes production and lowers operating cost throughout field life.

ZEiTECS was established to help operators maximize the value of their artificial lift systems. For more information visit us at http://www.zeitecs.com

Media Contact: Maria Cortez maria.cortez@zeitecs.com 281.833.8435



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