Red Spider

Red Spider Takes New Products to ATCE (September 20-22)

Press Release   •   Sep 21, 2010 09:52 BST

Red Spider Technology, the remote open close technology specialists serving the international oil & gas industry, is stepping up its ambitious global expansion plans and exhibiting at major trade show ATCE for the first time at Booth 3242.

 

Chief Commercial Officer Simone Palmieri is heading the Red Spider team attending the prestigious event in Florence to launch new advances in the company’s suite of remote open close technology products.

 

SPE's premier technical conference—the Annual Technical Conference and Exhibition, ATCE - is regarded in the Oil & Gas industry as one of the best ways for technology specialists to gain technical knowledge and make valuable contacts, while saving on consulting and research costs.

 

Mr Palmieri said: “The Red Spider team has a passion for developing clever products and we invest heavily in Research & Development. ATCE gives us an excellent opportunity to promote our game-changing patented remote open close well intervention and completion technologies.

 

“As well as the highly successful eRED  (electronic remote equalising device) which has saved operators many hours of rig time and reduced risk across several fields, we have our PowerBall™ reservoir isolation barrier and our self-contained , downhole hydraulic power and control unit eMOTION™ to show existing and potential clients.’’

 

Red Spider will be staging demonstrations of eRED at its stand throughout the event.

 

Red Spider employs 50 people at its custom-built headquarters in Westhill, Aberdeen, UK, and worldwide.

 

The company recently received £7.5million ($11.3million) growth equity to accelerate internationalization of the business and complete the commercialization and roll out of remote open close well intervention and completion technologies. Red Spider’s remote open close technology helps reduce risk and cost offshore by eliminating the need for well intervention or control lines – thereby enabling rig time savings.

 

eRED, Red Spider’s first tool to use its patented remote open close technology for pressure testing applications, has been used in 12 fields. The technology is on its way to becoming the industry standard solution for various downhole applications.

 

ATCE brings latest technologies and best practices together, with high-level speakers, a peer-selected technical program covering every discipline, and the latest products and services from E&P companies