STAVANGER, Norway — HydraWell and READ are combining to form a well integrity group.
Targets include providing plugging and abandonment support for late-life oilfield activities.
The combined company, with 75 employees, will have offices and bases in Stavanger, Aberdeen and Houston and a presence in Alaska, Australia, Brazil, Malaysia and Qatar. Mark Sørheim of HydraWell will be the CEO.
READ and its ANSA subsidiary provide measuring and analysis of well integrity issues, while HydraWell applies its perf-wash-cement technology to remediate any issues identified.
The combination will offer well integrity planning and diagnostics through barrier installation using digital tools and new technologies claimed to reduce risk and cost to operations.