UK-based fishing, milling, and casing recovery provider Ardyne announced on Wednesday that a major Chinese oil company had awarded it a casing recovery project.

The Aberdeen-based company's statement didn't disclose the contract value or client details but said it would deploy its technology, which helps reduce rig time and increase efficiency during offshore operations, in the Bohai basin.

The company said that its TITAN system would allow the client to improve efficiency with casing recovery and re-drill of existing wells with a recent operation reducing rig time by 94.5 hours.

Scottish Development International, Scotland's international business advice, support, and funding agency, helped develop the opportunity locally in China, the statement said.

The contract will see engineering support from the UK, while local logistics would be managed through Ardyne's base in Malaysia.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refintiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020