Reelwell's DualLink is designed to improve efficiencies in well construction.
Odfjell Technology has paid NOK40 million ($3.81 million) for a 10% stake in Reelwell, according to a March 21 news release. The two companies have also extended their cooperation agreement to five years, with options for five further one-year extensions.
Reelwell’s DualLink digital pipe technology is designed to provide real-time telemetry and secure downhole power.
Earlier this year, Vår Energi contracted DualLink for its operations offshore Norway, representing the first collaboration under the cooperation agreement between the two companies. Manufacturing and assembly are progressing in Sola, southwest Norway, with Reelwell responsible for overall delivery of the contract.
Odfjell Technology will provide drillpipe components and accessories, and it also will oversee maintenance requirements.
The first quarter of the year, although not quite at the end yet, has remained active with leadership appointments and company news, especially with bigger headlines about a potential bp/Shell merger and confirmed Saipem/Subsea7 merger.
The following compilation highlights the latest C-suite, senior-level and board of directors updates as well as M&A deals, joint ventures and strategic alliances, new facility/center openings and more.
