NORWAY - Epi-V backs Petrotools with £4.5m

The deal will provide the company with the strategic expertise and growth capital to broaden its product portfolio, move into equipment rental and servicing and markets its products in the US, the Middle East and Asia.

Founded in 2007, the company develops and manufactures advanced coiled tubing, wireline intervention and drilling tools used in the well production process. The business supplies major international service companies such as Schlumberger, Expro, Seawell, Baker, Aker Solution and QServ. It is also the preferred supplier to a number of international operators working in the North Sea, including StatoilHydro, Total, Talisman and ConocoPhillips.

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• Topics
• Expansion
• Nordics