Siem WIS, a company 60% owned by Oslo-listed Siem Offshore, has landed a co-operation contract with StatoilHydro in connection with the development of its Riser Pressure Control Device (RPCD) technology for an unspecified amount.

The contract covers the RPCD pre-engineering and the final qualification of Siem WIS' sealing technology, phase I.

Subject to a successful phase I the contract also includes an option, phase II, which includes detailed engineering, manufacturing of a complete RPCD system, and testing at one of StatoilHydro's North Sea installations.

"The contract is an important step for the further development of the RPCD concept, and for the acceptance of the technology by the drilling industry," said Per Espen Edvardsen, CEO of Siem WIS.

The aim for Siem WIS and StatoilHydro is that the use of the RPCD system will be an important contributor to enable Managed Pressure Drilling (MPD)capabilities from floaters.

MPD and recent drilling techniques seek to establish a closed loop for the drilling fluid, to achieve better drilling performance.

Siem says that depleated (infield) and high temperature/high pressure reservoirs will benefit from the closed loop drilling technology. This will lead to increased recovery and drillability.

The group adds that the RPCD technology, especially in combination with continuous circulation of drillfluid, will contribute in reaching the set recovery targets for StatoilHydro.