Aberdeen energy tech firm buys stake in English peer

Aberdeen-based FrontRow Energy Technology has bought into an English oil and gas technology specialist as it taps into a market that could be worth $700 million (£540m) by 2020.

'We see tremendous potential for ClearWell,' said FrontRow Energy Technology chief Stuart Ferguson. Picture: Contributed
'We see tremendous potential for ClearWell,' said FrontRow Energy Technology chief Stuart Ferguson. Picture: Contributed

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.

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These 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.”