CARLSBAD, Calif., August 18, 2022 – Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it has agreed to join Inteliwell, a joint venture (JV) with Transocean Ltd. (NYSE: RIG), and Intelilift AS, a subsidiary of Nekkar ASA. Inteliwell’s mission is to decrease drilling times through rig automation and streamlining of the well construction process using new processes and tools driven by artificial intelligence (“AI”). Inteliwell will offer a suite of applications that will provide an end-to-end, closed-loop workflow for well construction planning, execution, and monitoring.
Inteliwell’s software has been meticulously designed to leverage cutting edge technology and data that will improve consistency in operations by improving safety through reduction of personnel exposure to red zones and reducing well planning and construction time.
For its part, INTELIE™, which was part of the Company’s 2021 RigNet acquisition, will provide operational AI expertise, real-time data analytics, and planning components to the Inteliwell JV.
“The joint venture between Transocean, Viasat, and Intelilift aligns a potent mix of expertise in the areas of well construction, automation, and artificial intelligence,” said Brendan Sullivan, SVP, Intelligent Edge Solutions, Viasat, Inc. “INTELIE is already in use on the majority of drill ships today for real-time analytics and remote operating centers. Through the Inteliwell JV, we are poised to accelerate autonomous well construction while reducing cost and improving safety.”
“By reducing the days needed to drill a well, Inteliwell and its suite of applications creates incredible value to a large addressable market that is primed for change,” said Scott McKaig, Director, Technology & Digital Solutions at Transocean Ltd. “By aligning expertise from the three entities in our platform, we will be advancing the well construction process from preparing a well program to completion of the well. This advancement will streamline planning, increases rig site efficiency, and reduce unplanned non-productive time (“NPT”) to generate significant cost savings that can be realized quickly by the well operators.”
Stig Trydal, managing director of Intellilift added: “In short, the JV will provide software solutions combined with automation that are designed to allow operators to further improve the consistency of their operations while reducing drilling costs through more reliable and faster drilling operations.”
The offering -- that can be applied across all rig classes -- will be comprised of three key applications: InteliPlan, InteliAutomate and InteliAssist, which will create digital well plans that interface with a drilling rig’s control system to autonomously execute tasks, greatly expediting the well construction process. Additionally, an integrated real-time monitoring platform will measure downhole progress and evaluate conditions in the well to provide critical, precision-enhancing feedback to the drilling control system.
The Inteliwell Suite of Applications
· InteliPlan
InteliPlan will create a well construction program in both human readable and automatable, machine-readable format. The software will enable engineers to input well design data and generate the well construction program, including rig-specific well construction sequences. For standardization, specific operational practices can be embedded in the InteliPlan logic to ensure these critical practices permeate across all ongoing and future programs.
· InteliAutomate
InteliAutomate is a digital drilling control system which will automate well construction tasks by sending instructions from the well construction program, created by InteliPlan, to the rig equipment controllers. InteliAutomate receives feedback from such machines to automatically acknowledge completion of tasks and from InteliAssist for validated adjustments.
· InteliAssist
For operations oversight, InteliAssist will monitor well construction parameters and simultaneously run engineering simulations to allow comparison with real-time observations. The process will allow optimization of ongoing operations, avoid deviations from plan, provides prediction of operational problems, and can identify when human intervention in required.
To learn more about Inteliwell, please visit: www.inteliwell.com
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.
About NEKKAR ASA
Nekkar (OSE: NKR) is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years’ heritage from the world’s number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy and renewables and aquaculture.
About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 35 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people’s lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat’s Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include among others, statements related to the joint venture with Transocean Ltd. and Intelilift AS; the features, benefits, capabilities and performance of the Inteliwell applications, including InteliPlan, InteliAutomate and InteliAssist; the ability to improve safety, efficiency and consistency of operations, reduce planning and well construction time, and reduce costs; ability to deliver real-time automation; and anticipated growth trends in the business and key markets. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: our ability to successfully implement our business plan for our services on our anticipated timeline or at all; the ability to realize anticipated benefits and synergies of the joint venture; changes in the global business environment and economic conditions; the ability to successfully develop, introduce and sell new products and enhancements; contractual problems; product defects; manufacturing issues or delays; regulatory issues; changes in relationships with, or the financial condition of, key suppliers; technologies not being developed according to anticipated schedules, or that do not perform according to expectations; and other factors affecting the communications and energy sectors generally. In addition, please refer to the risk factors contained in Viasat’s SEC filings available at www.sec.gov, including Viasat’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.
Copyright © 2022 Viasat, Inc. All rights reserved. Viasat and the Viasat logo are registered trademarks of Viasat, Inc. INTELIE is a registered trademark of INTELIE Soluções em Informática SA. RigNet is a registered trademark of RigNet, Inc. All other company names mentioned are use for identification purposes and may be trademarks of their respective owners.
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