MicroSilicon Wins Startup Award at SPE
Quantum-RF* Instrumented Wellhead Monitoring System won Best-in-Show Award at the SPE ATCE in Dallas.
HOUSTON, TEXAS, Oct 2 — MicroSilicon Inc’s Quantum-RF System won the Best-in-Show Award at an industry competition to highlight innovative and emerging energy technology companies. The Quantum-RF sensor digitizes chemical molecules as they are flowing through the wellhead and transmits the chemical data to the cloud where it can be used to optimize treatment for flow assurance problems such as asphaltene, corrosion and scale. The system had previously been highlighted for special mention by Abu Dhabi National Oil Company (ADNOC) at their RDPETRO conference in May 2018, where ADNOC said that they anticipated the system to save $19M in intervention costs, increase production by 30,000 Bbl/d and decrease chemical spend by 20%. The Quantum-RF sensor has now completed multiple paid field tests in Canada, USA and Abu Dhabi and operators are already reducing the costs of asphaltene management based on the field data.
The competition was hosted by SPE and Rice Alliance during the SPE 2018 Annual Technical Conference and Exhibition in Dallas earlier this month. More than 70 companies applied to show their technologies and 12 were selected to present at the ATCE conference. The Best in Show award was judged by a panel of industry professionals from Chevron, Pioneer, NOV, GE and Halliburton. The companies were evaluated on 8 criteria, including the industry’s need for the technology innovation, the market for the technology, quality of the technology, field test results, experience of the management team, market strategy, and financial projections. In addition to the award, the company also received $35K in prize money.
“All 12 finalists displayed groundbreaking technology, we were honored to present alongside them,” said Omar Kulbrandstad, CEO of MicroSilicon. “It is particularly gratifying that our vision for digital flow assurance strategies is now being accepted by industry professionals and investors.”
The Quantum RF system heads next to the offshore GOM for a paid field pilot.
MicroSilicon is the world's innovation leader for real-time fluid characterization using electromagnetic and quantum chemical technology at the wellhead and for which they won, or have been nominated for, multiple industry awards, including Rice Alliance Startup, SPE ATCE Best-in-Show, World Oil (twice), iChemE, ADIPEC (twice) and most recently S&P Global Energy. They are now developing a range of flow assurance products and services as well as miniaturization of downhole sensing microchips.