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Success for Enhanced Drilling’s ED-Drill technology

Success for Enhanced Drilling’s ED-Drill technology

Viking Venture portfolio company and offshore technology provider Enhanced Drilling has successfully completed a landmark pilot project with Statoil. The EC-Drill system from Enhanced Drilling is a managed-pressure-drilling system for use off floating rigs. The pilot, conducted on the Troll Field on the Norwegian Continental Shelf, saw EC-Drill being used in the drilling of three branches of a well, reports Enhanced Drilling in a press release. Read the full story on enhanced-drilling.com. Enhanced Drilling is the company resulting from the merger between Ocean Riser Systems and AGR Enhanced Drilling and is a Viking Venture II portfolio...
Ziebel has been awarded shale contract

Ziebel has been awarded shale contract

Ziebel has been contracted to provide services on an American shale gas field. – This is only the beginning, says Ziebel CEO, Stig Hognestad in an interview in the Norwegian daily Finansavisen on May 7th, 2014. Only a limited number of Norwegian oil service companies has provided technology for unconventional oil and gas development, but according to Finansavisen is Ziebel going to announce a contract with « a major american oil company» shortly. – We have secured a major well intervention contract spanning more than ten wells onshore in the US and believe this is only the beginning, says Hognestad to Finansavisen during OTC (Offshore Technology Conference) in Houston this week. Finansavisen reports that the company has conducted in the range of 70 commercial well intervention jobs in the North Sea, the Middle East and the US, with customers such as PDO Oman, ADNO (Abu Dhabi National Oil Company), ConocoPhillips, and Maersk. Last year Ziebel posted a revenue of 40 million kroner, with an expected doubling for 2014. About Ziebel Founded in Stavanger, Norway in 2006, Ziebel provides specialist well intervention services to the global oil and gas industry. Ziebel is dedicated to enhancing production effectively and economically through its pioneering well intervention technologies, including the Z-System™. This proprietary fiber optic composite rod technology makes it possible to access and visualize the entire well bore in real-time. Ziebel supports its customers from its global headquarters in Stavanger, and bases in Houston, Texas, Aberdeen, UK and Oman. Ziebel is a Viking Venture II portfolio company. Visit...
Viking Venture invests in Petrostreamz and introduces new investment concept

Viking Venture invests in Petrostreamz and introduces new investment concept

Viking Venture invests in Petrostreamz AS, a software company that is a world leader in integrated asset modeling of complex oil and gas fields. The investment is also the introduction of a new investment concept by Viking Venture particularly tailored towards private investors. Petrostreamz has developed Pipe-It, an Integrated Asset Modeling software. It enables operators to conduct advanced simulations and optimizations of oil and gas fields providing better information as a basis for important investment and production decisions.Prestigious ordersPetrostreamz has a long history as supplier to assets on the Norwegian and British Continental Shelf with major operators such as Statoil and ConocoPhillips as customers. More recently, the company has won prestigious orders for production optimization of assets in Brazil and Saudi Arabia with customers such as Petrobras and Saudi Aramco. Petrostreamz is also involved in optimization of shale gas wells in the US and production allocation in Columbia.Petrostreamz was established in 2006 by Curtis Hays Whitson, professor in petroleum technology at NTNU in Trondheim and a world-renowned authority in the field of Integrated Asset Modeling. The company has experienced rapid and profitable growth since the launch of Pipe-It in 2010. Petrostreamz posted revenues of 3 mUSD in 2013 and expect to almost double revenues in 2014.Accelerate growthPetrostreamz CEO, Mr. Jan Biti, since 2010 a strong contributor to the expansion of Petrostreamz through the investment company CoFounder, comments: ”We see an enormous market potential for Pipe-It. Viking Venture as investor in the company makes it possible to accelerate the growth internationally. We are crossing the 20-employee mark as we speak with headquarters in Trondheim and employees in Oslo, France, USA,...