Paradyme Systems USA, a privately held R&D firm based in Michigan, announced availability of their patent pending QuantumQuenchTM technology for stopping oil and gas well blowouts of the type that occurred in the 2010 BP disaster.
In introducing their technology, Paradyme’s president and CTO, George Sachs, stated that “It has now become clear that a BP scale disaster can easily lead to liability costs in excess of $300M-$400M/day. Therefore, having the ability to quickly bring a blowout under control, shorten its duration and limit its environmental damage – by even one day – would not only help to minimize such damage but, also, prevent billions of dollars in unnecessary financial losses, stock devaluations, and very long term damage to reputation.”
The firm states that their technology, which was developed with the help of mathematical modeling and computer simulation, can quickly be transported by air, in as little as one or two days, and then be put to use almost immediately, unlike the much more massive mitigation systems that have now been developed by a number of the oil companies. Another major advantage claimed for the new system is that it will work even when well structures are severely damaged, or when well pressures are extremely high, which could prevent other technologies from being safely used.
Sachs states that the method would not only work in the presence of a damaged blowout preventer (BOP) but would also work when little, if any, well casing remains for attachment of other devices, such as caps, valves, or replacement BOPs. Sachs, also, stresses that because Paradyme’s solution will be considerably less expensive than other systems, it could be located at all drilling sites, to be immediately available in the event of an emergency. Sachs goes on to say that the ultimate goal is to be able to stop any future blowout within 3-4 days, or less.
He explained that the technology was developed in response to the terrible environmental damage he saw occurring during the 2010 BP disaster, “The idea came to me a few days after witnessing the developing environmental catastrophe together with the inability of both BP and the U.S. government to quickly stop it. I thought that short of waiting for all drilling in the oceans to end, a much better way needed to be found to at least prevent another Gulf scale disaster. ”
Paradyme Systems USA hopes that the technology will be valued not only by oil drillers and their support companies but also by insurance companies seeking ways to offer blowout liability policies, which at present they cannot do. Sachs believes that by tying such insurance policies to improved drilling safety practices, along with improved leak mitigation technologies, the goal of eliminating major offshore accidents could come closer to reality. The U.S. and foreign governments may also be interested in acquiring rights to use this technology, in the event that drillers operating off their shores are unwilling, or unable to do so. Plans are to offer use of the technology through annual licensing fees, or special insurance policies, as well as on an emergency only basis.
The firm states that for security reasons, it will not publicly release technical details on its technology, until patents have issued and/or confidential licensing negotiations have concluded.
Source: Paradyme Systems USA