Recon Announces Recently Developed Shale Gas Automation System
BEIJING, Oct. 10, 2013
BEIJING, Oct. 10, 2013 /PRNewswire-FirstCall/ --Recon Technology, Ltd.
(NASDAQ 'RCON'), an oilfield service company provider (the "Company")
operating primarily in the People's Republic of China, announced today the
successful deployment of a new automation product for extraction of shale
using a highly specialized supervisory control and data acquisition system
("SCADA"). This important achievement related to gas field exploitation and
production comes on the heels of the introduction of Baker-Hughes fracturing
technology to China Petroleum and Chemical Corporation's ("Sinopec") Zhongyuan
Oilfield. Based on the unique characteristics of various shale gas strata, the
SCADA system was developed by Recon to monitor and control the operation of
on-site equipment to optimize automation through the use of an intelligent
production process that is expected to provide a powerful new tool for the
delivery of a safe and efficient method of a shale based gas field production.
The Chinese government has implemented policies to promote exploitation and
subsequent utilization of shale gas by making subsidies available for gas
development companies, encouraging efficiency and safety in gas production and
incentivizing the use of gas for electricity production. To date current
technology has proven inefficient in consideration of the challenges related
to domestic shale strata; in particular equipment and related services have
not provided an efficient solution.
"We have leveraged our recent experience and development investments to
successfully deploy a new SCADA system for shale gas field well control and
monitoring", noted Mr. Chen Guang Qiang, CTO of Recon Technology. "Differing
from the typical hydrocarbon drilling applications in current use, gas
extraction in these shale strata based field requires a high continuity of
production. If this process is suspended, the subterranean gas reservoir will
likely be 'choked off' and subsequently destroyed by water after a protracted
shut-in period. This will cause premature shuttering of the well and result in
wasted quantities of gas which cannot be gathered in timely manner by means of
the current technology causing likely economic losses. Proper deployment of
our automated monitoring and control system can help to resolve this issue by
providing exact well data which is generally the most common cause for gas
well failure. In the event of a disruption in production our system can detect
failures as they occur in real time allowing our service team to take steps to
avoid such failures".
Mr. Chen continued, "Our unique automation system has proven its ability to
perform thus creating stability, reliability and scalability. As an
enhancement to the development of China's unconventional gas reserves, we
expect the demand for related equipment and services will increase. Recon is
uniquely positions to provide reliable solutions for these challenges and will
work to turn this opportunity to its advantage in establishing a leadership
position in the shale gas well automation segment."
About Recon Technology, Ltd.
Recon Technology, Ltd. provides leading Chinese oil and gas companies with
automation services designed to increase efficiency and profitability in
relation to the exploration, extraction, production, refining and
transportation of field based petroleum products for 10 years. Recon
Technology is the first Chinese non-state-owned oil and gas service company to
go public in the U.S. For additional information please visit us at
Recon Technology, Ltd
Tel: +86 (10) 84945799
Email: email@example.com; firstname.lastname@example.org
SOURCE Recon Technology, Ltd.
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