Aberdeen-headquartered Deep Casing Tools has formed an alliance in Norway and will look to replicate the model in other target regions.
The firm has agreed a deal in Norway with US-based multinational corporation National Oilwell Varco Completion Tools (NOV Completion Tools).
The agreement gives NOV Completion Tool’s growing completions and production solutions division access to the Scots firm’s technology. NOV will be Deep Casing Tools’ service provider in Norway, initially under the guidance and training of the latter company’s staff.
Deep Casing Tools noted that NOV had operations in more than 600 locations opening up new opportunities for the business.
Chief executive David Stephenson said: “We have been looking at key areas in which we want to expand and how to achieve that. NOV Completion Tools has a good presence and is strong in Norway and has an excellent reputation. Our companies are complementary, and we provide NOV Completion Tools with a differentiator and we benefit from the power and reputation of NOV Completion Tools.
“It is quite possible that this initiative will be rolled out through other regions and perhaps lead to a stronger relationship with NOV Completion Tools.”