Central regions | Materials, extraction | Technology & innovation

Russian downhole telemetry for oil drilling nominated for business award

28 Oct '15
Axel, a Russian start-up developing special telemetry to monitor drilling for oil or other hydrocarbons, announced that it has been nominated for Best Startup by RBC, one of the majors in Russias media market.

The RBC award annually marks the launch of a new business that showed impressive financial results in the first year of operation. Set up in 2012, Axel has now been nominated for the cultivation of a market niche for inexpensive and high-quality telemetry equipment.

The Axel MWD telemetry system is said to be built on innovative algorithms for data transmission between a downhole area and the surface on a real time basis. The system is reported to be able to switch on a computer with the so-called downhole modules connected to it; the latter are designed to transmit data from sensors up to the surface. Then special proprietary software analyzes the data obtained from the well, thus giving its user a clear understanding of geophysical processes that occur in the drilling area.

In 2014, the start-up sold 27 surface devices and six downhole modules. Its business model calls for international expansion.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Tags: Axel (8) / RBC (5) / downhole (0) / Best Startup (0) /

Latest News: Central regions
22 Feb '17 | Telecoms, media | Industry, manufacturing
21 Feb '17 | Finance, business | Technology & innovation
15 Feb '17 | Technology & innovation
14 Feb '17 | Technology & innovation
 

Feature stories

25 Jan '17
ScreenCardio-NN, an innovative company based in...
7 Dec '16
In spite of all current problems and adverse external...
2 Nov '16
Search (News archive - 21039)
Advertising
Nano & Giga Symposium
Advertising
Kendrick-RD
Advertising
Report: Russian universities should modernize to compete globally
Advertising
ITMO University

Latest News

22 Feb '17
Optic Fiber Systems, a Russian company, is ready to...
21 Feb '17
Russias leading universities may expect to receive...
20 Feb '17
A material almost identical to the human skin has...

Most read stories from last week

22 Feb '17
Optic Fiber Systems, a Russian company, is ready to...