Corac Group - new agreement is a big vote of confidence in the technology
The project is to develop, build, test and field trial the Groups Downhole Gas Compressor (DGC) in a depleting well in North America with the aim of accelerating gas flow through artificial lift, thereby increasing production and extending the life of the well. The development phase is expected to take approximately twelve months followed by a six month field trial. The agreement has a maximum value of $1.5m, based on achieving milestones over a period…
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