Energy services firm Expro has completed its acquisition of Norwegian technology company Enhanced Drilling in a deal worth around NOK2 billion (£145 million), strengthening its position in advanced offshore drilling services.
The acquisition adds Enhanced Drilling’s managed pressure drilling (MPD) and riserless mud recovery technologies to Expro’s portfolio.
Enhanced Drilling has an established presence in offshore markets including the North Sea, Caspian and Gulf of America, with Expro planning to deploy the technology more widely across West Africa, Latin America and Asia Pacific.
Michael Jardon, Expro Chief Executive Officer, said: “We are pleased to welcome the Enhanced Drilling team to Expro.
“This is a strong strategic fit that adds a differentiated capability to our portfolio and strengthens our position in technically demanding offshore markets. Their MPD technologies align with our focus on helping customers improve efficiency, manage risk, and deliver wells with greater certainty.
“Together, we are well positioned to expand access to these solutions across additional regions, including West Africa, Latin America and Asia Pacific.”
Kjetil Lunde, Chief Executive Officer at Enhanced Drilling, added: “Joining Expro marks an important milestone for Enhanced Drilling. As part of a global organisation with deep operational expertise and long-standing customer relationships, we are well positioned to scale our technologies and broaden their application across international markets.”
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