Oil Patch Bits: Kairos patents solution aimed at aging oil fields
Kairos LLC, a subsidiary of NANA WorleyParsons LLC, said it has developed and patented the mobile Arctic production system that aims to encourage oil exploration and development on the North Slope of Alaska. MAPS provides an ideal solution for marginal oil fields with smaller reserves that may not be economically viable to develop using conventional methods, or as an interim oil production solution prior to full project development.
MAPS was designed in response to the low price of oil and provides North Slope operators an option for developing oil reserves on the fringes of existing oil fields or other smaller deposits without a high-capital investment.
Alaska is being drastically impacted by low oil prices and Kairos said it is confident that this approach to responsible Arctic development can grow existing investments and spur new investment in Alaska’s oil and gas industry. MAPS fills an untapped niche in our currently challenging economy as an innovative, sustainable solution, the company said.
Kairos will be showcasing MAPS at the Resource Development Council’s 38th Annual Alaska Resources Conference, scheduled for Nov. 15-16 at the Dena’ina Center in Anchorage.