Norsk Hydro and Enventure form joint cooperative effort

Norsk Hydro and Enventure Global Technology LLC signed an agreement that incorporates solid expandable tubular technology into the Tekno2005 program, designed to develop new reserves and reduce development costs in the Norwegian offshore.

"This agreement provides a unique opportunity for a monodiameter application," Robert Hinkel, president and CEO of Enventure, says.

The cooperative effort between Hydro and Enventure consists of the first field application of Enventure's monodiameter system in combination with Hydro's multi-well, extended-reach field development scenario. These installations will be fit-for-purpose applications to maximize recovery of reserves at distances exceeding 10 km from the drilling structures. One potential candidate is the Ormen Lange field. Production from this field is expected to supply the UK with 20% of the country's total gas demand by 2007.

"The demand for hydrocarbon fuels shows no sign of waning, and energy companies require technology that goes further and faster and is more economical and reliable," Hinkel says.

10/13/94