CHESTER, UK – Wood Group has acquired Intetech, a provider of software and engineering consultancy services for well integrity and corrosion management.
Intetech, formed in 1991, employs about 30 people. Its proprietary iWIT software provides real-time active management of complex oil and gas wells, including those in ultra-deepwater and high-pressure/high-temperature reservoirs, or with corrosive well products.
Steve Wayman, CEO of Wood Group Kenny, said: “We are seeing a growing client demand for well integrity and corrosion management technology especially indeepwater where wells are costly and challenging…
“Also, the industry must comply with increasingly stringent regulatory requirements and technical standards, soasset integrity issues need to be addressed throughout the design and operational phases of oil and gas wells.”
The newly acquired company will be renamed Wood Group Inetech, but the existing management team will remain, led by Dr. Liane Smith.