Based on procedures and equipment used with limited success in the 11th attempt to contain BP’s Macondo well
blowout in 2010, the complex and time consuming response systems adopted by the oil industry have allowed
deepwater drilling to resume in the Gulf, but left many industry observers asking the obvious questions: With so
many potential failure points, would it work a second time? Under more-extreme conditions? Has anything
substantially improved in the wake of the Gulf disaster?
This broad lack of confidence in current spill response capabilities, coupled with the escalating rush for offshore
resources to replace dwindling global reserves, is now producing international conferences to address the
issues of marine spills, including the Oil Spills In Sea Ice Conference (Italy, Sept. 2011), the Oil Spill India
Conference (India, Sept. 2011), and the Interspill Conference (London, March 2012).
Developed and logged in April 2010, Velocitech’s patent-pending Rapid Repair Collar (VT-RRC) technology has
emerged as a significant advance in submarine well blowout recovery. With its unique ability to contain even the
deepest potential wells within 2 days, or 80% faster than the best systems currently available, the Velocitech VT-
RRC technology can not only significantly reduce the scope of environmental damage from a blowout, but
potentially minimize company and regional economic losses by billions of dollars with a single spill response.
(Within its first 10 days, the 2010 Gulf spill had released twice the oil volume as the entire Exxon Valdez spill,
produced more than $1 billion in regional economic damage, and cost BP $40 billion in market capitalization
from loss of stock value.)
Velocitech’s VT-RRC technology provides broad-based spill response capabilities, with patent-disclosure for
three basic containment configurations, including:
- Type I: A simplified riser repair system to re-establish complete hydrocarbon containment for production
to surface tankers, eliminating environmental damage while allowing for final termination by relief well.
- Type II: Targeting riser components common to current oil-industry blowout response systems, Velocitech
technology provides a simple grapple and seal system, allowing complete hydrocarbon containment 80%
faster than current industry techniques, with the resulting options of production to surface tankers, or
immediate flow termination via integrated valve assembly.
- Type III: Provides unique containment capabilities suitable as back-up in the event of failures in
disassembly and re-assembly procedures required by response systems currently deployed by the oil
industry, allowing production or termination options common to the Type II system.
|Figures 1, 2, and 3 (at left) provide deployment overview of a typical Velocitech VT-RRC Type IIa
(flange target, pin-grapple) response system.
Preparing for the global Oil Crunch (409) with its inevitable escalation in oil prices and profits, oil producers
have begun a rapid increase in exploration and production efforts, increasing E&P spending in 2011 to a
projected $529 billion, and $700 by mid-decade, up from just $200 billion in 2000. Much of this spending will
go to exploration of ever-deeper (and more challenging) offshore resources, where 1/3 of future global oil
production is projected to originate, and where inevitable blowouts will be increasingly difficult to contain using
today’s complex and limited response systems.
And, with roughly 25% of undiscovered global oil reserves (valued at more than $20 trillion, even at 2011
prices) believed to lie beneath rapidly-declining Arctic sea ice, oil companies, facing depleted reserves
elsewhere, are spending billions to be the first to access these final resources, despite the exceptional costs,
difficulties, and potential for producing an uncontrollable environmental disaster. With no currently-available
technology capable of rapid-containment within the harsh Arctic environment, Velocitech’s VT-RRC system
stands unique in its ability to meet this new environmental threat, combining simple deployment procedures,
minimal support requirements, and a robust environmental seal system suitable to the temperature extremes of
|As Velocitech remains focused on our primary projects, with nearly 18 months
due diligence, our patent-pending VT-RRC blowout recovery technology is now
available for sale. For details, contact VELOCITECH today.
|VELOCITECH - P.O. Box 21075 - Keizer, OR 97307 - USA e-mail: email@example.com
Copyright 2011 VELOCITECH