Project Innovation + Advantages:
Foro Energy will develop a high-power laser tool to assist in removing the extremely tough materials constituting aging energy assets in a timely, cost-effective, safe, and environmentally responsible manner. This cutting and melting tool will be capable of transmitting high-power laser light at long distances in a field environment, greatly boosting decommissioning efficiency.
The proposed high power laser decommissioning tool will be able to cut or melt tough materials at high speeds, long distances, and in harsh operating environments. Compared with using conventional technology, such as explosives, abrasives, or mechanical energy:
The major cost of abandoning an offshore oil and gas well is the day rate of the rig and how long it will be required for downhole milling, cutting, and perforating. A rig day rate can range from $250,000 to $500,000. Through prelliminary lab testing, Foro’s downhole tool technology has shown projected time savings of 30-50% versus conventional material removal methods.