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Petrostreamz nominated for Gullkronen 2015

Petrostreamz nominated for Gullkronen 2015

Petrostreamz is one of four companies nominated for Rystad Energy’s Gullkronen Award for 2015 in the category ‘New Venture of the Year’. Gullkronen is dedicated to acknowledge high performances and achievements made by companies involved in the oil and gas business during the previous year. Prizes are given out within the E&P Category and Oil Service Category. The winners will be announced on 4th February, 2015, at the Gullkronen. For more information about the award and the nominees visit rystadenergy.com » Petrostreamz is a Viking Venture portfolio company. Visit petrostreamz.com...
Wintershall awards 4Subsea frame agreement

Wintershall awards 4Subsea frame agreement

Wintershall Norway has awarded 4Subsea a frame agreement contract related to Subsea Engineering Services. The agreement covers engineering and advisory services related to subsea production systems including wellheads, x-mas trees and well intervention systems. The frame agreement has a duration of three years with an option for up to three additional years. In relation to the agreement 4Subsea has entered into a cooperation with Head Energy Multicontrol AS, a leading specialist company within subsea control systems. “With today’s challenging market situation the oil and gas industry needs new perspectives to develop safe and cost efficient solutions. We see this frame agreement as a recognition of our competence and our ability to use technology and innovation to find the best solutions to design and operate subsea fields”, says Peter Jenkins (pictured), head of Well Intervention and Drilling in 4Subsea. “Wintershall is an exciting client for us and we look forward to be working with them on their projects in the North Sea”, Jenkins adds. 4Subsea AS 4Subsea AS is a Norwegian based company that specializes in technology and solutions for production riser systems and subsea well systems, including monitoring solutions. The company was established in 2007, and the clients include all the major oil- and gas operators and the large suppliers of subsea equipment. Visit 4subsea.com » Viking Venture invested in 4subsea in 2014 as part of Viking Venture’s new investment concept. For more information contact: Senior Vice President – Well Intervention and Drilling, Peter Jenkins, phone +47 992 75 435, mail peter.jenkins@4subsea.com CEO Henning Christensen, phone +47 905 34 663, mail...
Enhanced Drilling delivers deepest RMR® on the NCS to date

Enhanced Drilling delivers deepest RMR® on the NCS to date

Enhanced Drilling, a Viking Venture portfolio campany, is maintaining its position as the leader in riserless mud recovery technology and services by delivering a major operator with the deepest RMR® job on the Norwegian Continental Shelf (NCS) to date. The operator has signed a four-year contract with Enhanced Drilling for its RMR® Riserless Mud Recovery (pictured) and CTS Cuttings Transportation systems for use on the NCS. RMR® has been successfully used on more than 220 wells since it was first deployed operationally in 2003. It will be used at 890m WD (2,920ft) on this project. Enhanced Drilling’s Vice President for Europe, Svein Egil Steen, said: “Although we have provided both RMR® and CTS for this customer before on the NCS, this latest contract for the deepest RMR® project to date in the area is a great testament to the technology, skills and knowledge that Enhanced Drilling possesses.” The four-year contract, which includes multi-year extension options, was effective from late November 2014 and will run until 2018. Read press release on enhanced-drilling.com » (in English). Read press release in Norwegian. About Enhanced Drilling Enhanced Drilling supplies innovative technical solutions and services to the global offshore industry. It has offices and facilities in Norway, Australia, Malaysia, Azerbaijan, Canada, the UK and the USA. Viking Venture invested in Enhanced Drilling (former Ocean Rieser Systems and AGR Enhanced Drilling) in...
Tullow Oil to participate in Exprosoft’s WellMaster Program

Tullow Oil to participate in Exprosoft’s WellMaster Program

Signs contract for ExproSoft’s well equipment reliability system Tullow Oil has signed a contract with Viking Venture’s portfolio company ExproSoft for the continued use of WellMaster – the global well equipment reliability database. By tracking the failures of all their active wells, the operator enables increased production and reduced intervention cost through improved understanding of risk and failures. “We are very pleased to see Tullow Oil’s support of WellMaster. The contract is a testimony to the value of equipment reliability data from an operator who has seen vast savings in reduced non-productive time and intervention cost through risk-based decision making,” says Odd Are Svensen, ExproSoft’s chief executive (pictured). “With the increasing number of participating operators, this tool becomes more powerful and is helping track operating progress of the Jubilee field and confirm designs for the TEN field, which is due to come on production in 2016,” says Simon Sparke, Head of Well Integrity at Tullow Oil. Read the full article on exprosoft.com » About Exprosoft ExproSoft increases well uptime for oil & gas operators through the WellMaster solution, the world’s largest repository of reliability data for completions. For over 30 years WellMaster has allowed operators to understand the failures and risk of well equipment, and use this knowledge to reduce intervention cost and increase production throughout the wells’ life cycle. Viking Venture invested in ExproSoft in 2010.  ...
Petrostreamz listed as one of twenty Norwegian companies worth following in 2015

Petrostreamz listed as one of twenty Norwegian companies worth following in 2015

The Norwegian innovation society has named twenty startup companies worth following in 2015. Among them is the Viking Venture portfolio company Petrostreamz. The companies worth following are presented in Norway’s leading engineering journal, Teknisk Ukeblad (TU – Technical Weekly Magazine). The list is a result of the magazine’s interviews with Norwegian investors, entrepreneurs, organizations and other key people, who were asked to list this year’s most interesting and powerful startup companies. Petrostreamz AS is a software company with its origin in the advanced PVT and streams technology developed at PERA AS during the past two decades. Pipe-It has been developed during the past five years, providing unprecedented capability to build complex Integrated Asset Models (IAM). Pipe-It provides IAM optimization that can be used with the same software you currently use to model your oil and gas fields. Visit petrostreamz.com » See the list and read more on tu.no » (in Norwegian only). Read more about Petrostreamz on vikingventure.com: Petrostreamz awarded contract on optimizing production in Saudi Arabia Petrotreamz nominated to “Gaselle” Petrostreamz ranked No. 2 on Deloitte’s 2014 Technology Fast 50 in Norway Petrostreamz Finalist for the 2014 Red Herring 100 Global Award Viking Venture invests in Petrostreamz and introduces new investment concept    ...