Cluster Insight With FourPhase
The industry is facing uncertain times, with an unpredictable oil price at a time when it also needs to evolve, to integrate digital solutions and to reduce CO2. We help operators address these challenges, says Øyvind Heradstveit from FourPhase.
Cluster Insight is a column where we ask six questions to catch a glimpse into the daily business-lives of our cluster partners and members.
In a recent column, Jarle Kvamme from Earth Science Analytics sent the baton over to FourPhase, so this week, we spoke with Øyvind Heradstveit, to learn more about him and his work as CEO in the company.
FourPhase was founded in 2012 and is changing traditional approaches to oil and gas production, playing an important role in the recovery of companies’ oil and gas reserves.
1. What is your role in FourPhase?
I am Founder and CEO of the Bergen-based solids management company, FourPhase.
2. Your primary focus at work right now is?
Like many, we are focused on contributing to net-zero targets. We know that our solutions offer the industry a cleaner approach to solids management by removing the need for coiled tubing operations, and we are developing new technologies which contribute further.
However, as CEO, I am focused on ensuring that our business can quantify the impact, both for ourselves and our clients. Our initiatives involve evolving our processes and adopting and using solutions like EV Private Equity's impact measurement tool; EVIQ, to define the impact.
In doing so, we are committed to achieving our own environmental KPIs and contributing to the net impact of our clients.
3. Biggest challenges and opportunities for FourPhase in the future?
We are innovators, and as such, we like to turn challenges into opportunities. The industry is facing uncertain times, with an unpredictable oil price at a time when it also needs to evolve, to integrate digital solutions and as mentioned, to reduce CO2.
As a result, we see opportunities to help operators address these challenges by:
Increasing oil and gas production without costly CAPEX investments
With a reduction in CAPEX investments, market demand for delivering profits is forcing operators to look for alternative options. By providing rental based solutions, we create viable business cases both for continuous production solutions but also to deliver increased production on choked back, solids producing wells, removing the associated costs and risks of traditional intervention operations.
Reducing POB Remote operation offshore
Developing and introducing digital solutions which enable autonomous operations and reduce POB is challenging. While the industry was evolving down this path, the ongoing pandemic has accelerated demand for reducing personnel offshore and automated solutions.
Fortunately, we recognised opportunities in this field some years ago and have developed our technology accordingly.
Back in 2018, we received a request to deliver a fully autonomous desander system for an unmanned rig in the South China Sea. We invested heavily, designed, built and delivered the world's first automated desander system—a system which is now fully installed and commissioned. So not only is our technology capable of addressing the digital shift it's also field-proven. We believe we are the only supplier who can deliver autonomous and remotely operated solids removal solutions today.
Reducing CO2 emissions related to solids
For a long time, operators have (and in some cases, still do) received dispensations for dumping oil-contaminated solids in our oceans. Industry practises like this need to change, and we see an opportunity in developing solutions to further help eradicate dumping oil-contaminated solids.
In addition, for all aspects of solids management, we aim to provide an efficient, trusted and proven alternative to traditional methods which will help our clients reduce their emissions.
4. Best part of being member in a cluster
Networking! As an SME, the cluster has provided invaluable networking opportunities regionally and internationally.
Obviously, this has been restricted this year, but previously we enjoyed being part of the Norwegian delegation to OTC Houston and were lucky enough to receive travel support from GCE Ocean Technology.
5. Your business motto
Be focused, work hard but don't forget to enjoy the ride! I'm a positive, energetic person, and I'm privileged to be surrounded by a talented team, with incredible skills who share that positive energy.
We all have a deep-rooted belief in what we are doing, and together we deliver products and results which we are proud of.
6. Which cluster member should we interview next?
Thank you for the insight Øyvind.
FourPhase was founded in January 2012 and has offices in Aberdeen and Bergen.
With a team having over 100 years experience in solids control, FourPhase is changing traditional approaches to oil & gas production.
FourPhase plays an important role in the recovery of your oil and gas reserves.
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