Since the successful IPV1 was released & Installed successfully in 2016, Precision Oiltools have been hard at work developing our Completion Barrier Valve Portfolio. Included in our Remote Operated Completion Valve Portfolio to date are Packer Setting Valves, Fluid Loss Control Valves & Formation Saver Valves.
In early 2017, Precision Oiltools were approached by a Super Major Operator and asked to develop a new Remotely Operated barrier valve for their new field development in the GoM Region. The Barrier Valve was to be RIH as part of their Deepwater single trip completion system. Precision Oiltools wasted no time in getting to work designing & developing ideas of how the valve was to operate that would suit the client’s requirements. We used the successful IPV1 as a base design to work from. As the IPV1 has a 100% success rate to date, we felt that this would give us a good base to work from. We worked very closely with the client throughout the project to ensure every feature they required was captured and incorporated into our design. 15 months from the start of the project, we now have a fully tested and V0 qualified IPV2.
The IPV2 is a Remote Close/Open barrier valve that is RIH as part of the completion string in the open position. Once at depth, the IPV2 can be remotely closed with annulus pressure. At this time the IPV2 will hold a bi-directional differential pressure of 7500psi. The IPV2 can be run ‘above’ or ‘below’ the production packer as it is fully metal to metal sealed throughout the valve. We purposely designed the valve this way, so it can be utilised in a range of applications including Packer Setting, High Pressure Isolation from formation & Tubing Hanger Isolation. We can also incorporate a Circulation Device into the IPV2 so that once the valve is shifted into the closed position, The Circulation Device remotely opens so you can circulate above the valve. The Circulation Device is remotely closed and can be permanently locked closed afterwards. Once all operations are complete, the IPV2 can be easily remotely opened by applying pressure down the tubing.
The IPV2, like all of our Barrier Valves in our Portfolio, incorporates our Patented Equalising Feature. This means that before the valve is opened, pressure will equalise above & below the barrier before opening. Firstly, this makes the opening of the barrier valve more reliable as it removes all friction forces acting on the ball valve. Secondly, it allows the pressure to equalise at a control speed, so no pressure surge will occur and will protect whatever is below the barrier valve from damage.
Once the IPV2 is opened, Full Bore ID is always achieved. The IPV2 can also be mechanically manipulated for future isolation & also as a contingency to the remote feature.
This is exciting times for Precision Oitlools. We have a young, experienced team that are always willing to hear about Completion issues Operators are facing. We also recently have installed a new state of the art high pressure, high temperature testing facility at our HQ in Aberdeen.
If you would like to find out more information about our IPV2 then please do not hesitate to contact our sales team at firstname.lastname@example.org