Petrobras and Foro Energy today announced the signing of a Technology
Cooperation Agreement (TCA) for high power laser drilling research and
development. The program with the Leopoldo Americo Miguez de Mello
Research & Development Center (CENPES) will focus on developing a next
generation high power laser drilling system. The TCA sets the framework
for collaborative research between Petrobras and Foro Energy over an
initial three-year time period with the opportunity for extensions.
The ultimate goal of the collaboration will be to achieve a step change
in drilling performance in the challenging pre-salt (subsalt) reservoir.
High power lasers have the potential to deliver step change performance
in drilling by increased rate of penetration, extremely low weight on
bit and torque, thereby prolonging bit life and lower drilling cost per
foot.
The Technology Cooperation Agreement was signed by Andre Cordeiro
Executive Manager of CENPES and Paul Deutch, CEO of Foro Energy. It
follows a previously signed Memorandum of Understanding (MoU) between
the two companies enabling the opportunity for wider collaboration in
utilizing high power lasers for additional applications.
Petroleo Brasileiro S.A. -- Petrobras (NYSE:PBR)
www.Petrobras.com.
Foro Energy www.ForoEnergy.com.
Foro Energy is commercializing high-power lasers for the oil, natural
gas, geothermal and mining industries. Their hardware platform transmits
high-power lasers over long distance using fiber optic cables to more
efficiently drill, complete and work over wells.
Copyright Business Wire 2014