Equinor and Sinomine Specialty Fluids sign major long-term contract
Bergen, Norway – 08 October 2019
Sinomine Specialty Fluids (formerly Cabot Specialty Fluids) has signed a significant framework agreement with Equinor for supply of cesium drilling and completion fluids to the company’s operations on the Norwegian Continental Shelf. The contract incorporates total fluid management including related engineering, laboratory and reclamation services, and runs until 31 May 2022 with options for five two-year extensions. It reaffirms Equinor’s long-standing commitment to cesium formate and has a potential value in excess of US$40 million through to 2022.
Christian Busengdal, Sinomine Specialty Fluids’ Business Director for Europe, says: “Our team are thrilled to receive this new long-term frame agreement and to continue playing a part in Equinor’s success. Since 2001, with our involvement in the Huldra field, through Kvitebjørn, Gudrun, Visund, Vega, Gullfaks and several others, we’ve seen cesium formate increase operational efficiency and safely deliver highly productive wells for Equinor. It’s very rewarding to see an operator truly recognise the combined value of drilling and completing in cesium formate fluids.”
Currently, Equinor’s planning teams are considering cesium formate for Martin Linge, Snorre, Visund and Gullfaks Satellite fields, with other projects in the pipeline.
About cesium formate
Cesium formate (CsCOOH) is an alkali salt and member of the formate family with potassium formate and sodium formate. At 2.30 g/cm3/19.2 lb/gal, it has the highest density of all formate brines. This clear brine is monovalent, with low viscosity and crystallisation temperature, and an adjustable alkaline pH. It is field proven to simplify challenging drilling and completion fluid applications, having been used in well construction operations since 1999.
About Sinomine Specialty Fluids
Sinomine Specialty Fluids Ltd. is the new name for Cabot Specialty Fluids Ltd. In June 2019, Sinomine Resource Group Co., Ltd. purchased Cabot Specialty Fluids from Cabot Corporation, through its subsidiary Sinomine (Hong Kong) Rare Metals Resources Co. Limited. As earlier, the company is headquartered in Aberdeen (UK) with offices in Bergen (Norway), Singapore and Houston (US), and controls the world’s largest pollucite mine in Manitoba, Canada. Cesium is derived from pollucite ore.
About Sinomine Resource Group
Sinomine Resource Group is a public company, headquartered in Beijing, China. Sinomine has more than twenty subsidiaries globally. The company’s main businesses include geological exploration, mining investment and base metal chemicals manufacture.