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Ziebel makes history with new composite fiber optic Z-Line®

Ziebel makes history with new composite fiber optic Z-Line®

For the first time, Ziebel’s Z-Line®, a gravity-deployed slim carbon composite cable, was used to acquire meaningful Distributed Temperature and Distributed Acoustic fiber optic data during a commercial well intervention. The Z-Line® made its inaugural run for a major operator offshore Norway.  The system accessed a platform well to a depth of 9,684ft with standard wireline-type gravity deployment and dry sealing pressure control equipment (no grease injection).  All mechanical requirements of the line functioned successfully, and high quality Distributed Fiber Optic (DFO) data was acquired for the operator. Successful performance marks commercial availability of Z-Line®. Read press release on www.ziebel.com...
4Subsea signs contract with Statoil: Further development of the cloud solution WellSpot

4Subsea signs contract with Statoil: Further development of the cloud solution WellSpot

The Norwegian oil company Statoil has awarded 4Subsea, a Viking Venture portfolio company, a contract for further development of the cloud solution WellSpot. 4Subsea and Statoil have developed WellSpot since 2011, in order to make data collection and analyses related to wellheads more efficient.  The solution is built on Microsoft’s cloud platform Azure. Being one of Statoil’s first cloud solutions, WellSpot is path-breaking. – Ensuring development of cost effective solutions for our clients, 4Subsea has a strong focus on utilization of cloud technology like Azure, Office 365 and Power BI.  This contract is an important recognition of our competence, says Øyvind Tveit, head of Engineering Software Solutions in 4Subsea. Read press release on www.4subsea.com » About 4Subsea 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 also work with business oriented software solutions such as WellSpot, as well as technology development of offshore wind turbines. The company was established in 2007, and our clients include all the major oil- and gas operators and the large suppliers of subsea...
AddSecure enters secure communication market as “new” player

AddSecure enters secure communication market as “new” player

The Viking Venture portfolio company Safetel has joined forces with Multicom Security and Securinet in the joint company AddSecure. Its sights are firmly set on achieving growth through an attractive range of products and high customer satisfaction. Boasting in excess of 100,000 customers, AddSecure will turn over in the region of MSEK 400 in Scandinavia. It aspires to become a leading player in northern Europe and the logical choice for customers on the Scandinavian market. Read more on www.addsecure.se...
Meta Downhole: The perfect fit

Meta Downhole: The perfect fit

«Well integrity challenges affect the structural, tubing and casing design of the well.(…) It’s against this context that Aberdeen-based, Meta, a premium downhole isolation company, has redefined approaches to integrity across the well’s lifecycle, addressing many of today’s global well integrity challenges.» says Richard Craig (pictured), Vice President Emerging Markets at Meta Downhole, a Viking Venture portfolio company. In the March issue of Oilfield Technology magazine he examines downhole metal-shaping technology designed to keep drilling programmes on track and maximise production. Read the full article below:   The use of Metalmorphology®technology with no ID restrictions to keep drilling programmes on track and maximise production Well integrity is a global challenge with reports revealing well integrity failures in 45% of Gulf of Mexico wells, 34% in the UK North Sea, and 18% in the Norwegian North sea (Source: Minerals Management Service, USA 2004; SPE forum North Sea Well Integrity, 2009; Norwegian Petroleum Safety Authority, Well Integrity study, 2006. Well integrity challenges affect the structural, tubing and casing design of the well. These challenges include damaged or stuck casing that often comes with ID restriction limitations; or corrosion and damage at any stage during the drilling, completion, production or injection phases across the well’s life cycle. It is this loss of well integrity via casing or completion tubing strings that leaves operators or drilling contractors with a difficult choice to make. They either have to accept the costs in lost production and downtime as well as potentially rising costs relating to drilling or wellbore replacement, or they need to adopt a remediation solution that makes economic sense and is truly effective and...
GasSecure sold to Dräger for 500 mNOK

GasSecure sold to Dräger for 500 mNOK

The Viking Venture portfolio company GasSecure AS is sold to Dräger Holding International GmbH for approximately 500 mNOK. The sale is the proof of GasSecure’s success both in the market and as a venture backed investment. Read chronicle in Adresseavisen: Slik skal det gjøres (in Norwegian only – demands login) Read article in Dagens Næringsliv: Millionær uten en tråd (in Norwegian only – demands login) Read article in Adresseavisen: Selger teknologiselskap for en halv milliard (in Norwegian only – demands login) Read article in Teknisk Ukeblad: Oppfinnelsen gjorde gründerne en halv milliard rikere (in Norwegian only) Photo: Stephan Dräger (CEO in Dräger), Joar Welde (partner in Viking Venture) and Knut Sandven (CEO in GasSecure) closing the deal. Photo: Andreas Eriksson. Read press release: Oslo/Trondheim/Lübeck, March 11, 2015: Norwegian technology start up GasSecure sold to Dräger for 500 mNOK The Norwegian venture‐backed company GasSecure AS is sold to Dräger Holding International GmbH for approximately 500 mNOK. The company will strengthen Dräger’s portfolio within gas detection with its wireless gas detector for the oil and gas industry. The sale is the proof of GasSecure’s success both in the market and as a venture backed investment. GasSecure was founded by Knut Sandven and SINTEF in 2008 based on core technology from SINTEF, with R&D Director Håkon Sagberg joining the company in 2009, and has been financially supported by Viking Venture, Investinor, ProVenture Seed and SINTEF since 2010. Chairman of the Board, Eivind Bergsmyr (pictured) from lead investor Viking Venture commented: “Dräger is in our opinion the ideal buyer of GasSecure. They have the capability and distribution power to scale the unique and...