Aberdeen energy tech firm buys stake in English peer
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.
FrontRow has acquired 50 per cent of ClearWell from the previous owner, MSL Oilfield Services, which retains the remaining 50 per cent.
ClearWell provides a system that uses a device to induce pulsed, high-frequency signals into a piping system.
• READ MORE: Aberdeen energy tech ‘hub’ secures £13m boost
Advertisement
Hide AdAdvertisement
Hide AdThese signals cause micro-crystals of scale to form and remain suspended in the produced fluid flowing through the pipework, rather than adhering to the internal pipe wall and restricting the flow of oil and gas.
ClearWell, which will relocate its head office in Southampton to FrontRow’s tech centre in Aberdeen, plans to grow the number of units in the field by about 400 per cent over the next five years.
FrontRow boss, Stuart Ferguson, said: “Increasing water production from maturing oilfield basins tends to bring with it many problems, including corrosion damage and scale buildup, which can substantially reduce the economic life of fields.”
He added: “With the global market for oilfield scale inhibitor set to reach $700 million by 2020, we see tremendous potential for ClearWell and are excited to support its ambitious growth plans. FrontRow is focused on dramatically reducing costs in the oil and gas industry.”