DIF acquires 125 MW solar project in Australia

Sydney, 30 May 2017 – DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 125 MW Clare Solar PV project from Fotowatio Renewable Ventures (FRV), via a 50 – 50 joint venture with Lighthouse Infrastructure.

Developed by FRV, the Clare Solar Farm is located around 35 km south-west of Ayr in Northern Queensland. The 125MW (DC) photovoltaic solar farm is currently under construction and is scheduled to commence operations in late 2017. The project will create up to 200 jobs during construction and when completed will generate enough electricity to power approximately 42,000 Queensland homes, abating nearly 200,000 tonnes of CO2e emissions annually.

Origin Energy, a major Australian energy company, has entered into a long-term contract to purchase 100% of the electricity output and large-scale renewable energy certificates (LGCs) generated by the project.

Project finance has been provided to the project by NAB and SMBC.

RBC Capital Markets and Société Générale were financial advisers to Lighthouse and DIF in relation to the acquisition and King Wood Mallesons acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “This acquisition represents DIF’s third large scale solar PV project in Australia, and we are delighted to further extend our relationship with FRV following the acquisition of the Royalla Solar Farm in 2016”.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner, Head of Renewable Energy
Email: c.mansfield@dif.eu

Allard Ruijs, Partner, Head of Investor Relations & Business Development
Email: a.ruijs@dif.eu

Categories: News

Tags:

Ardian confirms its ambitions for US Infrastructure Market through acuisition of stake in LBC

No Comments
London, May 22 2017 –
Ardian, the independent private investment company, today announces that it has signed an agreement to acquire a stake in LBC Tank Terminals (“LBC”) from State Super and Sunsuper. LBC, headquartered in Belgium, is a top-tier global independent operator of bulk liquid storage facilities, predominantly for chemical & base oil products.
Following the transaction, Ardian will hold a 35% stake in LBC. Current shareholders APG and PGGM will
remain invested in the company with a 32.5% stake each.
LBC benefits from its strategically located asset base with operating sites well positioned within major
global trading hubs. Despite its origins as a European company, LBC has a global presence with its largest
operations located in the US Gulf Coast region, namely at Houston and Baton Rouge. The Company also
operates critical sites in the key trading region of Rotterdam and Antwerp in Europe, as well as Shanghai
in Asia. LBC works with the world’s leading petrochemical producers and distributors, providing them with
an independent solution for their liquid tank storage requirements. In many cases, LBC’s business is
physically integrated into the customer production chain and therefore represents a critical infrastructure
for those clients.
Walter Wattenbergh, Group CEO of LBC Tank Terminals, commented: “We are delighted to welcome
Ardian as a new shareholder. LBC is at a significanttransition point in its business strategy, in particular as
the business shifts its focus toward expansion of its facilities in USA and Europe. This trend has been
identified by Ardian and we value the experience and support they can provide to LBC during this period of strategic change.”
Mathias Burghardt, Member of the Executive Committee, Head of Ardian Infrastructure, added: ”LBC is a unique company with fantastic value creation potential. We are very excited to support the managementvision alongside our partners APG and PGGM. Our LBC investment illustrates the existing potential forlong term investors like Ardian in the US infrastructure market.“
Andrew Liau, Managing Director of Ardian Infrastructure, further added: “We have been impressed by the
quality of LBC’s management team and share the vision that exists for the company. We look forward to
supporting the company in delivering upon its growth ambitions whilst maintaining safe and secure
operations for all of LBC’s employees, customers, and other stakeholders.“
LBC represents the 3rdUS dollar denominated investment undertaken by Ardian Infrastructure team in
recent months. Completion of the transaction is subject to a number of conditions including relevant
regulatory approvals.
ABOUT LBC
LBC Tank Terminals is a top-tier global independent operator of bulk liquid storage facilities for
petrochemicals, petroleum products and base oil products. LBC owns and operates a global network of
terminals at key locations in the United States, Europe and China, while offering loading / unloading
services for all modes of transportation.
www.lbctt.com

Categories: News

Tags:

Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners (CIP) through the funds Copenhagen Infrastructure II K/S (CI II) and Copenhagen Infrastructure III K/S (CI III) has acquired 3 offshore wind sites under development in Taiwan.

The three sites are all located off the Changhua coast in the Taiwan Strait and have a total capacity of up to 1,500MW. The three projects have been developed up to now by Fuhai Wind Farm Corporation.

The Government in Taiwan has set a target of 3,000 MW of offshore wind to be constructed by 2025 and decided that nuclear power will be phased out by 2025.

As part of the acquisition of the projects, CIP has entered into a MOU with the local company CSBC Corporation Taiwan regarding supply and installation services.

Further development of the sites will be undertaken by CIP in collaboration with local partner Taiwan Generations Corporation (TGC). The three projects are in the process of applying for the required environmental permits and are still subject to a final investment decision.

For any further information, please contact:
Kristina Negendahl Jessen, Copenhagen Infrastructure Partners, by phone: +45 70 70 51 51 or by e-mail:
cip@cip.dk. Webpage: www.cip.dk

About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners K/S (CIP) is a fund management company founded in 2012 by senior executives from the energy industry and PensionDanmark. CIP is owned and managed by the five partners, Jakob Baruël Poulsen, Rune Bro Róin, Torsten Lodberg Smed, Christian T. Skakkebæk and Christina Grumstrup Sørensen. All five partners have extensive experience within infrastructure investments and mergers & acquisitions. CIP currently manages the funds Copenhagen Infrastructure I K/S, CI Artemis K/S, Copenhagen Infrastructure II K/S and Copenhagen Infrastructure III K/S. Copenhagen Infrastructure II K/S has 19 Danish and international institutional investors: PensionDanmark, Lægernes Pension, PBU, JØP, DIP, Nordea, PFA, Nykredit, AP Pension, SEB Pension DK, SEB Pension SE, Lærernes Pension, Oslo Pensjonsforsikring, Villum Fonden, KLP, Townsend on behalf of a UK pension fund, Widex, LB Forsikring, and EIB (with the backing of the EU through EFSI).

CIP initiated the fundraising process for Copenhagen Infrastructure III K/S on March 16 and the fund has already been backed by a strong group of Anchor Investors, PensionDanmark (DK), KLP (Kommunal Landspensjonskasse, NO), Lægernes Pension (DK), JØP (Juristernes og Økonomernes Pernsionskasse, DK) and DIP (Danske civil- og akademiIngeniørers Pensionskasse, DK).

 

Categories: News

Tags:

Danish joint venture completes second UK biomass power plant ahead of schedule

Copenhagen Infrastructure Partners

As of 22 April 2017, the Snetterton Renewable Energy Plant has been handed over to the owners after a construction period of 29 months, which is one month ahead of schedule and within the agreed investment budget of GBP 175m. The biomass plant has a capacity of 44MW and will generate enough green electricity to supply 82,000 homes and save over 300,000 tonnes of CO2 every year.

In 2013, Burmeister & Wain Scandinavian Contractor A/S (BWSC) and Copenhagen Infrastructure Partners (CIP), together with PensionDanmark, formed a joint venture, BWSC PLC Ltd. (BPCL), to build, own and operate biomass power plants. The company closed its first contract for the Brigg project in 2013, and the project entered commercial operation in January 2016. The second project is the Snetterton project where the investment decision was taken in November 2014.

Snetterton, which is located in Norfolk in East Anglia, England, is based on Danish biomass energy technology supplied by BWSC under a turnkey EPC contract. Furthermore, BWSC is responsible for operation and maintenance of the plant under a 15-year O&M agreement, which commenced on the date of completion of the plant. The local staff consists of around 30 employees.

Snetterton is owned by Copenhagen Infrastructure I K/S, which has PensionDanmark as the founding and sole investor, together with BWSC.

“We are very pleased with the good cooperation with CIP and BWSC. The completion of our second project together, is a strong evidence of the success of our joint venture model. It provides PensionDanmark with an attractive return, and at the same time, we are helping to increase Danish energy technology exports and are supporting the transition to a climate-friendly energy production. We look forward to more projects together,” says Torben Möger Pedersen, CEO, PensionDanmark.

“The completion of the Snetterton power plant is an important milestone in achieving BWSC’s strategic objective of growth by financing of and investing in power plants. The collaboration with CIP and PensionDanmark has strengthened BWSC’s position as market leader within building, operating and owning decentralised biomass power plants, and we look forward to continuing this fruitful partnership”, says Anders Heine Jensen, CEO in BWSC.

“The completion of Snetterton is a continuation of the successful cooperation between PensionDanmark, BWSC and CIP, which started with the Brigg power plant. The completion ahead of schedule also demonstrates the value of forming partnerships between financial investors and strong industrial companies”, says Christina G. Sørensen, Senior Partner in CIP.

Snetterton

For further information, please contact:

Ulrikke Ekelund, PensionDanmark +45 2019 9238 or email: uek@pension.dk, web: www.pension.dk
Mette Mulipola, BWSC +45 48102302 or email: mknm@bwsc.dk, web: www.bwsc.com
Kristina Negendahl Jessen, CIP +45 70705151 or email: cip@cip.dk, web: www.cip.dk
Peter Sills, BWSC East Anglia Ltd. +44 7976 437 467 press@snettertonbiomass.com web: www.snettertonbiomass.com

Notes to Editors

Facts about the project:

Snetterton Renewable Energy Plant (Snetterton), which is located in Norfolk in East Anglia, England, is based on Danish biomass energy technology supplied by BWSC under a turnkey EPC contract. Furthermore, BWSC is responsible for operation and maintenance of the plant under a 15-year O&M agreement. Snetterton is a primarily straw fueled plant and has a capacity of 44MW, corresponding to the total consumption of 82,000 households, and will reduce annual CO2 emissions by an estimated 300,000 tonnes. The plant consumes in the region of 250,000 tonnes of straw per year which is sourced from farmers throughout the local region. The boiler of the plant was supplied by the former Danish high-tech company BWE which was acquired by BWSC in February 2017 through an asset deal.

Facts about the parties:

About PensionDanmark

PensionDanmark is a labor market pension fund and among the 50 largest pension funds in Europe. PensionDanmark manages pension and insurance schemes, health care and educational funds on behalf of 695,000 members employed at 26,000 businesses within the Danish private and public sector. PensionDanmark is a not-for-profit and owned by our members. As a result, all profits go to our members. Premium income totaled EUR 1.7bn in 2016. By the end of 2016 PensionDanmark had EUR 29,6bn under management. PensionDanmark currently has EUR 2.4bn invested in infrastructure and expects to invest a further EUR 1.1bn in infrastructure over the coming years.

About Burmeister & Wain Scandinavian Contractor A/S (BWSC)

Burmeister & Wain Scandinavian Contractor A/S (BWSC) is a Danish engineering and contracting company which develops, builds, operates and owns high-performance biomass, biogas and diesel power plants. The majority of the projects are supplied as turnkey plants, and BWSC has delivered more than 180 power plants to 53 countries worldwide with a total capacity of more than 3,500 MW. Currently, BWSC has ongoing activities in England, Northern Ireland, Lebanon, Mauritius, Faroe Islands, Sri Lanka and Kenya. In 2016, BWSC generated revenue of DKK 2.9bn, and the order backlog amounted to DKK 6.7bn at end-2016, which is an all-time high. In February 2017, BWSC acquired the assets of the Danish boiler manufacturer Burmeister & Wain Energy (BWE) and thus secured its position as a leading energy company on the global market for small and medium-sized biomass power plants. BWSC originates from the stationary engine division of Burmeister & Wain (B&W), which has built and installed diesel engines for power plants since 1904. BWSC was established as a separate specialist company in 1980 and was acquired by Mitsui Engineering and Shipbuilding Co. Ltd. in 1990. In February 2017, BWSC acquired key assets from Burmeister & Wain Energy.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners K/S (CIP) is a fund management company founded in 2012 by senior executives from the energy industry and PensionDanmark. CIP is owned and managed by the five partners, Jakob Baruël Poulsen, Rune Bro Róin, Torsten Lodberg Smed, Christian T. Skakkebæk and Christina Grumstrup Sørensen. All five partners have extensive experience within infrastructure investments and mergers & acquisitions. CIP currently manages the funds Copenhagen Infrastructure I K/S, CI Artemis K/S, Copenhagen Infrastructure II K/S, and Copenhagen Infrastructure III K/S. Copenhagen Infrastructure I K/S and CI Artemis K/S both have PensionDanmark as sole investor, while Copenhagen Infrastructure II and III K/S have multiple Danish and international institutional investors.

 

 

Categories: News

Tags:

New Portfolio Company: Xsens AS

Investinor

Investinor and lead investor Proventure invests MNOK 25 in oiltech startup Xsens.

Xsens is based in Bergen, Norway and offers patented technology for measuring flow rates in oil and gas pipelines.

Measurement of flow rates in the oil and gas industry represents a billion dollar market globally. The measuring instruments available on the market today, must either be inserted into the liquid and gas flow, or penetrate the pipe walls to work properly. They are easily disturbed by e.g. scaling (deposits inside the pipes), and their accuracy will deteriorate over time.

Xsens has developed a proprietary technology for measuring flow rates accurately from the outside of the pipes, enabling significant cost reduction, improved technical integrity and long term stability.

The Xsens technology can monitor flow rates in pipelines on the seabed, in process facilities onboard platforms and vessels (where oil, gas and sludge are separated), as well as in onshore processing plants.

─ This investment enables us to grow the company internationally, and to realize an ambitious product launch, says Chairman of Xsens Christopher Giertsen.

─ The main advantage of the Xsens technology is cost savings. Xsens offers solutions with the same accuracy as its competitors, but at a substantially lower price. They are set to grab a significant market share, says Investment Director of Investinor Jan Morten Ertsaas.

─ This is a very exciting company spun out from Christian Michelsen Research (CMR) in Bergen, which has a long tradition of developing world-leading measurement technology for the oil industry. They have once again managed to develop a product that could provide significant savings for the industry, says Managing Partner of Proventure Terje Eidesmo.

Categories: News

Tags:

Activa Capital and Paluel – Marmont Capital realize their investment in Gaz Européen to DCC plc

No Comments
 Activa Capital

Activa Capital and Paluel-Marmont Capital have reached an agreement with international group DCC plc, shareholder of Butagaz since 2015, with regards to the disposal of their stake in Gaz Européen. Following the acquisition of an equity interest and a capital increase in December 2013, Activa Capital and Paluel – Marmont Capital have been accompanying the development of Gaz Européen as shareholders alongside the founders (majority shareholders ) and the management.

The DCC group has submitted a binding offer to acquire Gaz Européen, a natural gas retail and marketing business which supplies business and public sector customers in France, founded in 2005 when the French natural gas market was first deregulated and opened to competition. This acquisition which enables DCC to enter a new phase of diversification of its offer in energy businesses, is conditional on competition clearance from the French Competition Authority and is expected to complete in the first quarter of 2017.

For Yann Evin, CEO and shareholder of Gaz Européen, Activa Capital and Paluel-Marmont Capital have accompanied the transformation of the group’s supply chain model and supported the company’s strong growth for the last three years. With Butagaz, we expect to continue down that path and explore together new growth opportunities.

For Charles Diehl, Partner of Activa Capital, we are delighted to have contributed to Gaz Européen’s success, which has become a leading player in its market segment throughout France with 500,000 customers in the collective residential B2B market across 10,000 sites. We are convinced that the combination with Butagaz is an important milestone for continued success on the B2C as well as B2B markets.

For Xavier Poppe, Partner of Paluel-Marmont Capital, we are proud to have supported Gaz Européen in a period of strong growth during which the number of sites supplied has tripled and the turnover more than doubled over the last three years to exceed €200m today.

 

About Gaz Européen

The Gaz Européen group is a natural gas retailer serving the entire French territory thanks to its regional entities (Gaz de Paris, Gaz de Lille, Gaz de Nantes, Gaz de Lyon, Gaz de Marseille, Gaz de Toulouse). Specialist retailer of natural gas focusing on supplying energy management companies, apartment blocks with collective heating systems, public authorities and the service sector in France, Gaz Européen has a recognized track-record of experience in customized product and service offering which enable customers to better control their energy consumption. Learn more about Gaz Européen at www.gaz-europeen.com.

 

 

Categories: News

Tags:

DIF and EDF Invest complete Thyssengas acquisition

DIF

Frankfurt, 5 October 2016 – DIF Infrastructure IV and EDF Invest, as equal shareholders in a consortium, are pleased to announce that they have closed the acquisition of 100% of Thyssengas, a German gas transportation network, from Macquarie-managed vehicles.

Thyssengas owns 4,200km of gas transportation pipelines serving industrial and municipal clients in North-Rhine-Westphalia. The company has a long standing history in the region, employs over 250 people, and realizes its allowed revenues largely under the regulation of the German Federal Network Agency (Bundesnetzagentur).

As long term infrastructure investors, DIF and EDF Invest aim to maintain the operational excellence of Thyssengas’ network, one of the leading transmission system operators in Germany.

The transaction was partially funded by an acquisition loan provided by ING, RBC and SEB. The EUR 320m note provided by Allianz will remain in place after closing.

Royal Bank of Canada (financial advisor), Clifford Chance (legal), PwC (regulatory, tax, model audit, financial), Poyry (technical and commercial) and Willis (insurance) advised the sponsors while the lenders were advised by Herbert Smith Freehills.

About DIF

DIF is an independent and specialist infrastructure fund management company, managing funds of approximately €3.3 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, renewable energy assets and other core infrastructure assets in Europe, North America and Australia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

About EDF Invest

Created in July 2013, EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest targets three asset classes: Infrastructure, Real Estate and Private Equity. Its Infrastructure portfolio includes in particular a 50% stake in RTE (the French electricity transmission company) as well as significant stakes in TIGF (the gas transport and storage company operating in the South-West of France), Porterbrook (one of the three main rolling stock companies (ROSCOs) in the UK), Madrileña Red de Gas (the operator of the main gas distribution network in the region of Madrid) and Géosel (a French underground hydrocarbons storage facility).

Categories: News

Tags:

Norvestor invests in Eneas

Norvestor VIIL.P.(“Norvestor”), a fund managed by Norvestor Equity AS, has signed an agreement to invest in Eneas Group AS(“Eneas”)

Eneas is a leading independent energy intermediary for SMEs in the Norwegian and Swedish electricity markets. The Company offers its customer base of approximately 20,000 SMEs active energy procurement services, usually only available to larger corporates. The customer value proposition is built on convenient and independent electricity sourcing, protection against energy price volatility, green energy certificates, and extensive market knowledge with a 20-year track record.

In 2016, Eneas also expanded organically into Finland, a market with similar characteristics as the Norwegian market.

Eneas is experiencing strong growth and generated pro-forma sales of NOK 478 million in 2015, and has 170 employees.

“Through our unique methodology for targeting the SME segment and solid value proposition towards customers, we see a significant market potential for Eneas.

We are very happy to have joined forces with Norvestor, and look forward to work together to realise significant growth opportunities, further strengthen our offering and geographical footprint” says Thomas Hakavik, founder and CEO of Eneas.

“We have followed Eneas and its management team for several years and we believe that Eneas represents an exciting investment opportunity with its strong market position, attractive value proposition towards customers and outstanding sales capabilities targeting a large addressable market” says Fredrik Korterud, Partner at Norvestor Equity and chairman designate in Eneas.

Following the acquisition, Norvestor will become the largest shareholder in Eneas with about 80% of the shares. Management and employees in Eneas will invest a significant stake, and hold the remaining shares. The transaction is expected to close in August 2016, subject to customary closing conditions, including approval from the Norwegian Competition Authorities.

For further information:

Fredrik Korterud, Partner Norvestor Equity

Telephone: +4740211402

Email: Fredrik.korterud@norvestor.com

Thomas Hakavik,

CEO Eneas

Telephone: +47913 68 511

Email: thomas@eneas.no

Eneas was founded in 1995 and has grown to become Scandinavia’s leading independent electricity intermediary for SMEs, Serving customers in industry, commercial and government segments. Eneas has170 employees located in offices in Drammen and Trondheim. In 1998 Eneas expanded into Sweden and has since then been able to steadily grow their customer base through their Energy Audit, Energy Broker and Smart Metering service offerings.

Today, Eneas has over 20,000 SME customers across Sweden and Norway, and established a foothold in Finland in February 2016.

Read more at www.eneas.no

 

Norvestor Equity AS is a leading private equity company focusing on lower mid-market buyouts in the Nordic region. The team has worked together since 1991 making it one of the most experienced private equity teams in Norway, having executed 60 investments with 249 follow-on M&A transactions, in addition to executing 41 exits including 14 IPOs. Norvestor focuses on investment opportunities in growth companies, making platform investments principally in Norway and Sweden, with potential to achieve a leading Nordic or international position either through organic growth, through acquisitions or by expanding into new countries. Funds advised and managed by Norvestor are currently invested in the following portfolio companies; Life Europe, Johnson Metall, Sentech (formerly Advantec Sensing), Apsis, Aptilo, Cegal, Marine Aluminium, Crayon, ABAX, Robust, iSurvey, Future Production, Nomor, PG Flow Solutions, Roadworks, Permascand, Phonero, 4Service and Hydrawell.

Read more at www.norvestor.com

Categories: News

Tags:

Norvestor invests in HydraWell

Norvestor

Norvestor invests in HydraWell

Norvestor VIIL.P.and Norvestor VII OS L.P.(“Norvestor”), funds managed by Norvestor Equity AS,
has signed an agreement to invest in HydraWell Intervention AS(“HydraWell”)

HydraWell is a rapidly growing well integrity specialist providing a range of step-changing proprietary tools and associated services to oilfield operators and services integrators.
HydraWell specialises in safe and highly efficient plugging & abandonment(“P&A”)
, slot recovery and well repair. The company has developed its technology and products in close collaboration with leading operators on the Norwegian Continental Shelf(“NCS”), and has
successfully placed more than 150 plugs in wells across the globe since 2010.

“As a result of our strong track-record on the NCS, we have seen an increasing
international interest for our tools and services. We are currently running operations in Abu
Dhabi, Malaysia,the Netherlands, Denmark and the UK in addition to the high activity level in Norway. We realised some time ago that we need support in the continued development and internationalisation of HydraWell,and are pleased to have Norvestor on-board as our
partner for this exiting journey”, says Odd Engelsgjerd, outgoing chairman of HydraWell.

“HydraWell is an ideal platform investment for Norvestor with a highly experienced team and
a well proven product-and service offering providing operators significant cost savings.
In addition to a robust P&A market, HydraWell has a compelling offering towards
well repair and infill drilling, which is expected to grow significantly with a continued rebound in the oil price”, says Per-Ola Baalerud, Partner in Norvestor Equity and chairman designate in HydraWell.

Following the acquisition, Norvestor will become the largest shareholder in HydraWell with approximately 60% of the shares, while the remaining shares will be held by founders, management and employees.
HydraWellhad revenues of NOK 83 million in 2015
and is experiencing strong growth.
HydraWell employs 25 people in its headquarters outside Stavanger.

Categories: News

Tags:

Schlumberger Acquires Meta Downhole Limited

Schlumberger Acquires Meta Downhole Limited

Unique metal-to-metal sealing technology expands Completions portfolio

HOUSTON, March 24, 2016—Schlumberger today announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole metal-to-metal isolation solutions in well integrity applications.

“With Meta’s unique proven technologies, we will take a quantum leap forward in advancing our downhole completions technology offering,” said Olivier Le Peuch, president, Completions, Schlumberger. “When combined with their metal-to-metal isolation expertise and operational track record, we can offer our customers reliable and flexible solutions to address downhole isolation challenges.”

The company’s Metalmorphology® technology uses established principles to shape metal downhole that reliably conforms to the geometry of the wellbore casing or liner, delivering permanent metal-to-metal isolation. Once implemented, operators have a gas-tight, axial load-bearing and compliant life-of-well solution.

Meta technology can be deployed in a wide variety of applications to improve structural and casing integrity, seal tie-backs in new wells, isolate selected zones, facilitate slot recovery or assure plug-and-abandonment integrity.

Meta is headquartered in Aberdeen, Scotland, and has offices in three locations globally with 30 employees. For more information on Meta Downhole Limited, please visit www.metadownhole.com.

About Schlumberger
Schlumberger is the world’s leading supplier of technology, integrated project management, and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 95,000 people representing over 140 nationalities and working in more than 85 countries, Schlumberger provides the industry’s widest range of products and services from exploration through production.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit www.slb.com.

###
For further information, contact:

Susan Ganz
Corporate Public Relations Manager – Western Hemisphere
Schlumberger
Tel:+1 713 513 1944
sganz1@slb.com

Categories: News

Tags: