I'm Matthew Billingham, and I'm the wrieline technical director for well interventions. We're here to today, south of Paris, at our Milan European Training Center—it's a fantastic facility. Today, we want to talk to you about LIVE digital slickline services and tell you about the increased efficiencies the services offer and how they can reduce risk. We have insights from within the well itself, with measurements such as head tension, shock, and more—coming from the tools in real time. This greatly simplifies the operation we're going to perform. With LIVE digital slickline services, you only need to go to the wellsite with one crew and one set of equipment, so that means you don't need specialized pressure control equipment; you don't need different power packs; you don't need one cab for e-line and another for slickline operations: This makes logistics much easier.
Regular slickline services rely on an enormous amount of experience from the chief operation driving the winch. Now with LIVE digital slickline services and the amount of useful data coming from downhole to surface, it's like taking off a blindfold. We have the full depth of the correlation downhole—pressure, temperature, and firing force of the jars, for example. This changes the way we do slickline, meaning that operations will be faster and more efficient. You can also avoid less changes between the equipment, which means less pressure tests. You won't need grease control, with the grease potentially going into the well and other environmental concerns. Going to this footprint with LIVE digital slickline services reduces risk and makes the operations faster.
In the North Sea, it's been shown through the well intervention excellence network that 10% more production can be achieved through proactive interventions. And with those proactive interventions bringing that extra 10%, it has been estimated that the cost of each barrel is about USD 6.5, so the value proposition and the free cashflow that these interventions actually generate for operators is superb. With LIVE digital slickline services, you have the tools to chase that extra 10% in production—or even more.