Oilfield technology firm moves to Tees Valley
24 Mar 2010
Wilton, UK – Compact GTL has developed a method to solve the problem of associated gas in remote and deepwater oilfield developments. The company is moving its R&D laboratory in Abingdon, Oxfordshire to join its other operations at its pilot plant in Wilton, Redcar.
Oilfield developments generate a variable release of natural gas when oil is produced, known as associated gas. The current solution is to either re-inject the gas back into the field or to simply flare the gas, which is becoming less acceptable from a political and environmental viewpoint due to its greenhouse gas emissions. It can also carry heavy financial penalties.
Disposal of associated gas can be a significant impediment to oilfield developments in remote and deepwater locations where there is no ready market for the gas.
Compact GTL’s technology, however, will convert the associated gas through compact catalytic reactors into synthetic crude oil, or syncrude, which can then be used for fuel or refined for other uses.
The move is being supported by a £85,000 grant from One North East and the Tees Valley Industrial Programme (TVIP) – a scheme set up following the partial mothballing of Teesside Cast Products to promote industrial transition in the regions towards low carbon and advanced manufacturing.
The funding will help add 10 new jobs to the company’s 32-strong workforce and the purchase of new equipment as the firm looks to step up the Wilton based testing capabilities of its process - due to go to market by 2013.
“Their novel technology will help to create a new energy source and has the potential to transform offshore oilfield development, while reducing greenhouse emissions in support of a greener, low carbon economy,” said Ian Williams, director of business and industry at One North East.
Founded in 2006, Compact GTL has chosen to focus its development and testing work in the North East thanks to the region’s growing oil and gas sector and robust supply chain opportunities. Its chief executive Nicholas Gay, said: “We are delighted that we are able to consolidate our operations at the Wilton site which will provide highly skilled jobs in the area.”
