The New Industry Ventures fund (a collective enterprise fund involving Gazprom Neft, Gazprombank, the Russian Venture Company (RVC) and VEB Ventures) is implementing an funding venture on growing Russia’s first serially produced gear system for technical servicing and geophysical surveying in horizontal properly sections.
The New Industries fund will allocate finance to a venture being carried out by L-Petro, an organization specialising within the manufacture of high-tech gear for geophysical surveys and properly interventions. Supported by the fund, the corporate will develop a number of modifications to downhole tractors and equipment for servicing horizontal wellbores, in addition to beginning serial manufacturing of those. Total funding on the a part of the fund can be RUB 160 million (USD 2.08 million).
The venture is directed at growing a product line in revolutionary Russian gear, and launching a high-tech product gross sales and servicing enterprise. So far, a prototype downhole tractor has been developed, R&D accomplished, and pilot bench-testing efficiently undertaken. Serial manufacturing of assorted modified downhole tractors is anticipated to start over the subsequent 4 years, with 4 modified variations of this gear (levered, wheeled, hydraulic and reduced-capacity), designed to deal with varied technological issues, deliberate.
In phrases of their key options, L-Petro downhole tractors will meet home clients’ necessities in full, and can be totally aggressive with main international alternate options. The prices of each the downhole tractor itself and the prices related to utilizing it is going to be to ore extra occasions decrease than these of aggressive worldwide merchandise.
New Industries’ assist will imply pilot manufacturing and equipment may be expanded, a enterprise launched to deal with product gross sales in a number of of Russia’s areas, and a community of service centres put in place. Serial manufacturing of the primary model of the downhole tractor is anticipated to begin in 2021. Production of subsequent fashions is deliberate by 2024.
(Source: Gazprom Neft – Image: Schlumberger downhole tractor/Schlumberger)

The publish NEW INDUSTRY VENTURES FUND TO DEVELOP FIRST DOWNHOLE TRACTOR IN RUSSIA appeared first on Energy Global News.

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