WellConnection the inspection, maintenance and repair services (IMR) provider for drilling and subsea equipment on the Norwegian Continental Shelf has acquired ChemTech.
ChemTech, located at Tananger near Stavanger, provides preparation for inspection and treatment of NORM (Naturally Occuring Radioactive Material) on the Norwegian Continental Shelf.
Rune Haddeland, CEO of WellConnection, said: “ChemTech´s high competence and extensive experience within inspection and the fast growing NORM field will substantially strengthen WellConnection´s offering to our clients. We will now establish the preparation and NORM services at other WellConnection locations for the benefit of our clients.”
Energy Ventures Private Equity (EVPE) support WellConnection’s growth strategy. Per Arne Jensen, senior partner with EVPE and chairman of WellConnection, said: “With this acquisition our position as as the North Sea leader of one-stop IMR services for tubulars, risers and drilling equipment is strengthened.”
Arild Myrland, managing director of ChemTech, commented: ”We are very pleased to become part of the WellConnection Group. This will allow us to accelerate our growth strategy by offering our services from several locations and continue to offer excellent services to our customers, both within high pressure water cleaning and NORM treatment.”
ChemTech AS will be held as a separate entity within WellConnection and will change name to WellConnection ChemTech.