February 19, 2020

First five Open-Innovation Platform projects approved for development

On January 31, 2020, the Novomet Expert Commission met to review Open-Innovation Platform applications.  The commission consists of top Novomet executives and is headed by CEO Maxim Perelman.

Twenty-eight Open-Innovation Platform applications made it through the pre-moderation process. Twenty-one were considered by the Expert Commission.

The commission discussed pros and cons of each project, including project merit, commercial viability, and potential for further development.

At the end of the session, the commission picked five projects to support. These five applicants will be offered agreement options that typically include the following types of support from Novomet:

  • Direct investment
  • Manufacturing and technological support
  • Bench and pilot testing
  • Joint R&D and prototyping
  • Access to sales channels and possible creation of a joint venture

Novomet opened the Open-Innovation Platform at www.novometgroup.com/innovations 6 months ago as a portal for finding great ideas and projects for new manufacturing methods and new technologies in the oil and gas industry. Both individuals and businesses are invited to apply. The primary segments of interest are artificial lift, well completions, process automation, oil production efficiency, oil treatment and transfer, offshore operations, software, VR and AR technologies, electrical drilling, and other related technologies. Projects from any stage (idea, completed R&D, prototype, pilot manufacturing, operating business) are considered.

The Open-Innovation Platform offers individuals and businesses the opportunity for quick acceleration and commercialization of worthy projects.  The Expert Commission will meet again to review applications in April 2020.

Submit your application now for consideration!

February 13, 2020

Novomet presents innovative technologies for oil production and energy at EGYPT PETROLEUM SHOW "EGYPS 2020".

International exhibition and conference takes place on February 11-13, 2020 at the Egypt International Exhibition Center in Cairo.
We invite you to visit the Novomet Group stand!

February 12, 2020

Geyser High-Flow, High-Temp ESPs Deployed in Geothermal Wells in Turkey, Cut Electrical Usage by 28%

Geothermal power plants use water naturally heated by the earth to generate electricity. Geothermal energy is clean, renewable, and helps reduce carbon emissions related to power generation. But harsh conditions in geothermal wells cause many downhole pumps to fail prematurely. Typical geothermal well environments feature:

  • Reservoir temperatures up to 200°С (392°F)
  • Conditions prone to active scale accumulation

In 2018 and 2019, Novomet engineers used decades of knowledge and experience gained through deploying electrical submersible pumping (ESP) systems in harsh oil and gas wells to begin developing a cost-effective geothermal pumping system. This newly adapted geothermal ESP system featured heat-resistant, corrosion-resistant pumps and permanent magnet motors, which consume less electricity and produce less heat than downhole induction motors. Geothermal fields in Turkey provided the challenging conditions needed for Novomet to pilot its geothermal pumping systems. After initial development and lab simulations, Novomet engineers began installing and testing geothermal ESPs in wells across Turkey.

Novomet geothermal ESP systems performed well despite the harsh conditions. After seeing how successful the first systems were, Novomet began standardizing the design so it could be offered as a new line of pumps. Because of the massive volume of water required in geothermal operations, Novomet made additional design improvements, including high-volume, high-performance pumps and high-power permanent magnet motors. The result is the high-temperature, high-flow Geyser geothermal ESP.

In November 2019, three more Geyser geothermal ESPs were installed in Turkey. These systems have the ability to produce fluid at the rate of 10,000 m3/day (2.6 million gal/day) and they are powered by highly efficient 660-kW permanent magnet motors. These three systems are still running perfectly and bring the total count of Geyser ESP systems in operation in Turkey to 21. Despite geothermal fluid temperatures ranging from 155–195°C (311–383°F) Geyser systems have now been in operation for more than 380 days.

Because Novomet ESP designs are more efficient than competing systems, Geyser ESPs have also reduced the electricity required to pump a cubic meter of water in geothermal operations. The closest competing geothermal pump in Turkey uses 1.25 kWh per cubic meter of produced water, while Novomet Geyser systems consume only 0.9 kWh to lift the same volume of water. This reduces ongoing power consumption and costs by 28%, further supporting the goal of reducing carbon emissions.

Finding cost-effective, alternative energy sources remains a high priority for countries and companies alike in a joint effort to curb the increase in global average annual temperatures. Geyser ESP systems not only support sustainable geothermal energy initiatives to reduce greenhouse gas emissions, but they also reduce energy consumption by lowering the power required to produce geothermal fluids. Novomet is an active supporter of the Paris Agreement and is proud to join other technology-forward companies in the hunt for alternative, green energy solutions.

January 28, 2020

Novomet Awarded TOP-10 Export Potential Rating in TechUp 2019

Perm, Russia, January 2020— Russian Venture Company (RVC) released its eighth annual national TechUp ratings for high-tech, fast-growing companies in Russia. Novomet was rated among the TOP-10 large companies in the Main Ratings for the fourth time. It was also awarded a TOP-10 Export Potential rating.

Over the last decade, Novomet has actively developed export channels, with almost 45% of its revenue coming from the Middle East, Latin America, the United States, Romania, Indonesia, Malaysia, and other countries outside Russia.

Maxim Perelman, Novomet CEO, has repeatedly stressed the company’s focus on growing equipment exports and on designing technologies for markets around the world. The Colibri cable-deployed rigless ESP is just one example of a revolutionary technology developed specifically for markets outside of Russia.

Novomet is joined by two more Perm companies named to the TOP-10 Export Potential TechUp list in 2019: Promobot LLC and Perm Chemical Company LLC.

TechUp ratings are established by RVC in partnership with the Association of Innovative Regions of Russia (AIRR). This annual ratings release started in 2012 with the support of Rosnano and the Foundation for the Promotion of Small-Scale Businesses in the Sphere of Science and Technology.  In 2013, PwC joined the rating process as a project partner.