Tendeka Expands in China with Exclusive AICD Agreement
July 24, 2015
Tendeka, the provider of completions systems and services to the upstream oil and gas industry, has signed a two-year agreement with Eternal Asia Supply Chain Management for the exclusive supply of its market-leading FloSure™ autonomous inflow control devices (AICDs) in China.
The strategic partnership with Eternal Asia, China’s first listed supply chain service enterprise, is a significant development in Tendeka’s growth within the country.
Eternal Asia has a sound knowledge of the highly important Chinese market, and the company’s global footprint will provide Tendeka with potentially greater business opportunities in the country’s oil and gas sector.
Tendeka’s focus is to improve returns and create value for our client’s wells by providing high quality completions and well services to significantly improve well performance.
Tendeka’s AICDs, part of the company’s fully integrated sandface completions solution, have a proven record for delivering results by reducing unwanted gas or water production, enabling increased oil recovery rates and a much better sweep of the reservoir.
More than 10,000 FloSure™ AICD valves have been installed to date globally in light and heavy oil wells, ensuring uniform production longevity and increasing production rates by up to 50% in comparison to passive inflow control technology.
Alan Pearson, CFO of Tendeka, said: “The combination of Tendeka’s technology and product knowledge with Eternal Asia’s local expertise and innovative supply chain systems will provide clients with an AICD system that will significantly increase the yield from Chinese oil fields.
“We look forward to developing a strong relationship which benefits both companies and provides the Chinese oil industry with an innovative solution for maximizing recovery.”
Xu Sun, Director of Eternal Asia, said: “We have been very impressed with the benefits that Tendeka’s FloSure™ AICDs can bring in maximising oil production, and we can envisage many developments in China where their deployment will be appropriate.
“Clearly, the FloSure™ AICD is not just an evolution of the ICD. It is a revolutionary technology in its own right, delivering impressive results throughout the world, and we are sure the Chinese oil and gas industry will welcome it.”
Tendeka has a proven track record in the provision of completions and reservoir monitoring products, systems and services. Its robust solutions help operators overcome the technological challenges they are facing, as it works to continuously develop its offering to the oil and gas industry.