Aberdeen-based oil and gas technology development company Deep Casing Tools (DCT) together with its partner Innovaciones Petroleras Omega (InPO) has struck an evergreen deal with a national oil company.
The master service agreement will see the operator award DCT contracts and orders with an initial value of up to $13 million (£10m) for exploratory wells, after a trial in an exploration extended reach well.
DCT will supply the operator with its “best-in-class” turbine-powered tools TurboCaser and Turborunner, with the option to further support by providing other new technologies.
The tools, which use high-speed turbine systems to land casing and completions at target depth, were launched in 2011 and are described as “industry-leading technologies”.
DCT boss David Stephenson said the “significant” contract increases firm’s international footprint and crystallises its global growth plans. “We remain at the forefront of the oil and gas downhole technology market.”