[ 25.February 2008 ]

Ziebel Acquires Leading Edge Inflow Assurance Company, Inventech Energy

Stavanger-based reservoir competence and wellbore technology company, Ziebel AS, announced today the successful acquisition of the Tulsa, Oklahoma based company Inventech Energy. Established in 1999, Inventech has become well renowned worldwide for its inflow assurance solutions for oil and gas field development and operation.
Inventech has recently developed innovative software solutions for inflow control devices (ICD), which offer substantial drainage improvements in horizontal wellbore applications. Inventech is currently developing “smart” sand screens that will significantly expand the use of standalone screens and offer remarkable additional benefits for clients.

Kristian Brekke, PhD, CEO of Inventech was the original inventor of the ICD production management system during his employment with Norsk Hydro in the 1990s. The ICD technology was originally developed by Hydro to improve production from long horizontal well bore applications in the North Sea Troll field. The method has later spread to other applications and geographical areas. “Dr. Brekke is perhaps one of the most knowledgeable experts within the inflow performance community, and we are very happy to welcome him and his staff to be part of the Ziebel team,” said David Ottesen, CEO of Ziebel Group.

With the acquisition of Inventech’s expertise and technology, Ziebel is now able to offer industry leading software, consulting hardware solutions for inflow performance and sand control.

The inflow control assurance technology and competence are substantial additions to Ziebel's solution offering and complement Ziebel’s strategy of providing oil companies with superior integrated drainage solutions.

The integration between the two companies is well under way, assisted by the head-start made possible due to a sales and marketing agreement that commenced between Ziebel and Inventech in December 2007.

About Ziebel

Ziebel AS, headquartered in Stavanger, is a respected provider of subsurface asset consulting and production solutions.  Products and solutions offered further include downhole instrumentation and control systems, innovative well completion solutions combined with reservoir- and flow assurance simulators, downhole monitoring solutions, subsea observation well monitoring, artificial lift solutions, as well as services that include fiber optic DTS well logging interventions, deployment systems, evaluation of reservoir performance and artificial lift optimization.

Ziebel, with a workforce of more than 200 employees, has personnel and operations in a number of countries covering Western Europe, North and South America, the Middle East and South East Asia.

www.ziebel.biz