OSLO, Norway -- Aker Solutions has agreed to acquire X3M’s well intervention technology business for around $8 million.
X3M provides downhole intervention service tools and associated products such as plugs, packers, hangers, valves, setting, and recovery tools.
Among the proprietary technologies are plugs and packers for HP/HT (high pressure/high temperature) and sour gas service. Some have been deployed successfully in gas wells with very high concentrations of hydrogen sulfide (H2S) and carbon dioxide (CO2).
X3M is also developing a new metal to metal seal technology.
The company is well established in the Middle East, with operations in Oman, Saudi Arabia, and the UAE. Aker Solutions, which already has well service operations in Saudi Arabia and Oman, plans to merge its operations with those acquired.
Additionally, X3M has a design engineering team based in Narvik, Norway. The R&D facility there will be broadened to support Aker Solutions development of wireline tractors and application tools.
X3M to expand Aker Middle East well service capability
Aker Solutions has agreed to acquire X3M’s well intervention technology business for around $8 million.