Feds invest $1.1 million for cleaner and safer oil and gas recovery efforts
The federal government has announced $1.1 million in funding for a clean technology innovation aimed at enhancing environmental and safety measures in oil and gas recovery.
Through Western Economic Diversification Canada and the Western Innovation Initiative, Intelligent Wellhead Systems will receive the money to scale up manufacturing of the inVision Intervention System product lines which are installed at on- and-offshore critical well intervention operations.
Officials say the inVision technology enhances the on-site safety of operators and helps protect the surrounding environment as well. Described as a wellhead or blowout preventer component that integrates into most high-risk, large asset operation configurations, the technology uses big data to measure efficiencies and reduce greenhouse gas emissions.
As the only company offering this type of service, officials say Intelligent Wellhead Systems is seeing a rapid adoption of this new technology by the global oil and gas industry.