Perth headquartered mining equipment, technology and services (METS) company Qteq Pty Ltd has received a METS grant to jointly develop revolutionary subsurface drilling sensors that will drastically reduce borehole drilling and logging costs.
The METS Ignited Collaborative Project Funds grant will match funding being provided by Qteq partner Wallis Drilling, to develop subsurface Measurement While Drilling (MWD) sensors for Reverse Circulation (RC) drilling.
“With our collaboration partners we aim to be the first to commercialise a slim hole, real-time formation evaluation and drilling diagnostics sensor package positioned behind the drill bit,” said Qteq CTO Dr Tim Hopper at yesterday’s grant awards ceremony with Federal Minister for Jobs and Innovation Michaelia Cash.
“This has the potential to dramatically reduce borehole drilling and logging costs in the mining industry.
“Qteq is incredibly appreciative of the Government’s support for the project, which will soon be trialled commercially outside of Perth in tandem with Wallis Drilling’s automated RC drilling rig. We have an R&D technology hub in Perth that benefits from the presence of major mining companies, fellow METS businesses and local universities.”
Qteq CEO Simon Ashton said the company was established in July 2017 via a merger and acquisition, and through sheer hard work had organically grown to employ more than 110 people in technology and service jobs across Queensland, South Australia and Western Australia.
“Qteq is 90 per cent owned by management and staff and is set to continue on its growth trajectory as it becomes the recognised technology bridge between the oil and gas industry and the mining and groundwater industries,” Mr Ashton said.
“We are not constrained by our ambition – we simply need a little support from government to create those major export markets that are open to Australian innovation and ingenuity. The METS grant will help us achieve this ambition.”