Opsens announces order from a large integrated oil company for casing-conveyed permanent observation well in CO2-EOR project
Quebec City, QC, November 23, 2009 - Opsens Inc. ("Opsens") (TSX Venture Exchange: OPS) announced an order from an existing client to design and install multiple pressure and temperature sensor systems on the outside of casing in an new observation well installed as part of ongoing reservoir surveillance in an large CO2-Enhanced Oil Recovery ("EOR") Project.
The sensor systems are permanently cemented downhole to provide real-time measurements of pressure and temperature at multiple elevations within the target horizon. Casing conveyed systems provide unobstructed access to the inside of the casing for supplementary surveillance surveys. Opsens Solutions will be utilizing its prior experience in downhole systems design including specialized flow dynamics studies to assess sensor isolation within the downhole completion.
"This order from an existing client reaffirms Opsens Solutions mission to not only be recognized is an industry leader in high temperature fiber optic sensor systems for the SAGD market but to be recognized as a solutions provider capable of applying our considerable experience and technical expertise to solve our clients' needs," said Opsens Solutions president Gaétan Duplain. "We are fortunate to have a technical team within Opsens Solutions that allows us to be creative and innovative in solving our clients' needs".
This order is coming from the same customer that gave us a 26-well order for the OPP-W recently. Opsens' OPP-W fiber optic sensor system provides oil sands producers with reliable real-time downhole pressure and temperature information about their SAGD wells during operation. The ability to confidently control bottomhole pressure at high temperatures for artificial lift systems such as electrical submersible pumps allows SAGD operators to improve steam/oil ratios and to reduce operating and lifting costs. For multiple well operations, this can provide millions of dollars in savings by reducing water treatment costs and fuel required for steam generation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Opsens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
For More Information Contact
Pierre Carrier, President and CEO
(418) 682-9996
Louis Laflamme, CA, CFO
(418) 682-9996
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Opsens Inc.
www.opsens.com
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