Wednesday 27 November 2019

Endùr Energy Solution AS has signed a Letter of Intent in regards to acquire Caltec Production Solutions Ltd. This UK-based company is a world-wide provider to major operators of Improved Oil Recovery (IOR) solutions used to increase production from mature oil & gas fields and wells.

“Caltec Surface Jet Pump technology combined with Endùr Energy engineering and construction capabilities will be a driver in the IOR market space going forward. We are always looking for technologies that can enhance performance and minimize our customers carbon footprint”, says Interim CEO Endùr Energy Solutions, Eirik Berge.

In addition to brownfield production enhancement solutions, the Endùr Caltec value proposition covers backed out gas production, multi-phase flow and flare gas capture applications, also suitable for greenfield installations.

“Our international awards winning field proven patented passive technologies enables oil and gas operators to harvest energy already held within the reservoir and production facilities, delivering benefits of enhanced production, extended economic life of fields, and a reduction in environmental impact”, says Dr Najam Beg, CEO Caltec Production Solutions Ltd.

Caltec Production Solutions Ltd. has carried out over 150 successful installations globally. Its customers include Saudi Aramco with 13 installations, BP, Shell, Exxon, Total, Petronas, E&I, Murphy Oil, Perenco and other major oil & gas operators. The acquisitions of Caltec Production Solutions Ltd is subject to Due Diligence and board approval. A closing of the transaction is planned for Q4 2019.

Endúr Energy Solutions is a well-established oil service company headquartered in Stavanger. The company has extensive experience as supplier of maintenance, modification, installation, fabrication and rebuilding of complex oil and gas installations both onshore and offshore. Endúr Energy Solutions is a wholly-owned subsidiary of stock listed Endúr ASA, a Norwegian industrial group with clear ambitions for further growth within the three market areas aquaculture, maritime service and energy.

For more information about the companies, see www.endur.no and www.caltec.com