A drilling tool manufacturer for the oil and gas industry has been granted £250,000 for innovation in the technology.
The cash will help Paradigm Drilling Services develop new systems for use in horizontal drilling in oil and gas wells. It will also help part-fund the firm’s project, which involves the design, development, testing and evaluation of new drilling tractors.
Fraser Innes (pictured), Chairman and CEO of the firm said: “Drilling activity is becoming more complex as operators look to access more isolated reserves which often involve horizontal drilling… The success of this project has the potential to fundamentally change the way we drill very long horizontal and extended reach drilling wells.”
The Technology Strategy Board provided the money as part of its ‘Smart’ scheme, which helps small and medium-sized businesses in research and development projects in science, engineering and technology.