Darcy wins prestigious award for innovation27 June 2012
Epi-V-backed Darcy has won the 2012 Wood Group Award for Innovation, a prestigious honour which reflects the ground breaking nature of its new sand control solution.
The category, which forms part of the Grampian Awards for Business Enterprise, is awarded to businesses which can demonstrate a proven ability to create, nurture and develop innovative products, processes or services that substantially improve commercial performance.
Aberdeen-based Darcy won the award for its highly efficient and effective sand control system which uses unique screen technology to maximise inflow from openhole completions in the most demanding operating environments.
Judges awarded the prize to Darcy because it has developed a product that is unique in the upstream oil and gas sector, one which satisfies a real need in the market place and which they feel has the potential to make a positive impact on the economy.
The award win follows a run of success at Darcy which recently saw the business launch its sand control system to market, following the first successful downhole installation.
During the project, which was supported by several major operators and an oilfield service company, the components performed flawlessly and their effectiveness was confirmed on the system's recovery to the surface.
Commenting on the award win, Steve Bruce, chief executive at Darcy, said: "This prestigious award is recognition of all the hard work by everyone connected to company in the past two years. We're delighted to win this award as we bring our step-changing technology to the global market."
Steve Kent, Partner at Epi-V, said "Overcoming the complex challenges involved in producing from sand-prone reservoirs is one of the key technical issues facing international oil and gas operators today as they move to Deep Water and harsher operating environments.
"With Epi-V's support, Darcy has been able to develop, test and commercialise a technology which is generating significant global interest in the global sand control market, a segment of the upstream industry which is worth more than $1.4 billion."
Epi-V made a multimillion pound investment in the technology in 2008, nurturing its development by providing access to a high quality design team and state of the art manufacturing facilities.
In addition to financial investment and practical development support, the fund's experts have provided strategic commercialisation guidance, helping establish a business platform around the technology, creating a brand and proposition and opening routes to market through their industry contacts.
For further information about Darcy visit www.darcyflow.com or email business development manager Mark Presslie firstname.lastname@example.orgMore news headlines