OptaSense and Shell agree contract extension

Realtime asset intelligence company OptaSense has today signed a £ 10 million extension to the product development framework agreement (PDFA) with Shell, originally announced in 2010. This new agreement builds on the successful research and development of the company’s distributed acoustic sensing (DAS) technology and its commercial applications for subsurface monitoring. The collaboration is designed to enhance further the technical performance of DAS and to release additional products and services, specifically flow monitoring, to complement the hydraulic fracture monitoring and vertical seismic profiling products commercialised under the initial agreement.

In addition to signing a new contract with Shell, OptaSense has also announced that, following the end of a three year exclusivity period, it is to commercially share a series of detailed technical learnings and products from the field testing stages of the programme. This information includes evidence based and peer reviewed insights into how best to deploy DAS, and will benefit oil and gas companies who are seeking to improve their understanding of the well completion process, reduce the safety burden and operational costs associated with well completion and monitoring.

Adapted from press release by Jack Davidson.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/21032013/shell_optasense_product_development_framework_998/