18 August 2022 – Global communication company Viasat Inc. today announced that it has agreed to join Inteliwell, a joint venture (JV) with Transocean Ltd. (NYSE: RIG), and Intellilift AS, a subsidiary of Nekkar ASA.
Reference is made to the stock exchange announcement dated 28 October 2021 when Nekkar announced that its subsidiary company, Intellilift AS, had established a JV, named Inteliwell, with a subsidiary of Transocean Inc. Viasat Inc. has now decided to join the JV after close collaboration between INTELIE™ by Viasat and the Inteliwell JV.
The Inteliwell JV was established with the object to accelerate the decrease of drilling time through rig automation, and to streamline well construction process through new AI-driven processes and tools. Inteliwell offers a suite of products that will provide an end-to-end, closed-loop workflow for well construction planning, execution, and monitoring.
Inteliwell’s software has been meticulously designed to leverage cutting edge technology and data to improve consistency while a) reducing well construction time and drilling costs and b) improving safety by reducing personnel exposure to red zones.
Viasat Inc. has approximately 7,000 employees worldwide and generated revenues of USD 2.8 billion in FY 2022. INTELIE, which was part of Viasat’s 2021 RigNet acquisition, will provide operational AI expertise, real-time data analytics, and planning components to the Inteliwell JV.
“The joint venture between Transocean, Viasat and Intelilift aligns a potent mix of expertise in the areas of well construction, automation, and artificial intelligence,” said Brendan Sullivan, SVP, Intelligent Edge Solutions, Viasat, Inc. “INTELIE is already in use on the majority of drill ships today for real-time analytics and remote operating centers. Through the Inteliwell JV, we are poised to accelerate autonomous well construction while reducing cost and improving safety.”
“By reducing the days needed to drill a well, Inteliwell and its suite of applications create incredible value to a large addressable market that is primed for change,” said Scott McKaig, Director, Technology & Digital Solutions at Transocean Ltd. “By aligning expertise from the three entities in our platform, we will be advancing the well construction process from preparing a well program to completion of the well. This advancement will streamline planning, increases rig site efficiency, and reduce unplanned non-productive time (“NPT”) to generate significant cost savings that can be realized quickly by the well operators.”
The offering is comprised of three products: InteliPlan, InteliAutomate and InteliAssist, which interface with a drilling rig’s control system to autonomously execute tasks outlined in the well plan, greatly expediting the well construction process. Additionally, an integrated real-time monitoring platform will measure downhole progress and evaluate conditions in the well to provide critical, precision-enhancing feedback to the drilling control system.
Intellilift, which is owned 50.67% by Nekkar, will hold a 33% ownership in the JV.
“We are delighted to welcome a renowned technology company such as Viasat to the Inteliwell JV. INTELIE has extensive experience from the offshore rig sector and is a good match for Transocean and Intellilift. The combined competence will enable for a quicker and faster market adoption to increase rig efficiency and reduce non-productive rig time,” says Ole Falk Hansen, CEO of Nekkar ASA.
To learn more about Inteliwell, please visit: www.inteliwell.com
About Nekkar ASA
Nekkar (OSE: NKR) is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years’ heritage from the world’s number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy and renewables and aquaculture. Intellilift is a Nekkar company delivering solutions for digitalization, digital performance improvement, electrification, and automation
Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 35 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people’s lives anywhere they are—on the ground, in the air or at sea.
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world. Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.
Ole Falk Hansen, CEO, +47 988 14 184, IR@Nekkar.com