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Enhanced Drilling Attracts New Investor, Adds Board Member

PRESS RELEASE - Bergen, 5th August 2020

Norwegian offshore services provider Enhanced Drilling, the global leader in subsea management and control of drilling fluids, has attracted an investment from Transocean, the global leader in ultra-deepwater and harsh environment drilling services and will appoint a Transocean representative to Enhanced Drilling’s Board of Directors this month.EC_Drill in operation

Enhanced Drilling’s other major shareholders include: EV Private Equity, Shell Ventures and the IKM Group. Transocean’s investment represents the first part of an investment programme to accelerate further technology development and commercialisation. Enhanced Drilling’s current technologies include: EC-Drill®, RMR® (riserless mud recovery) and CTS (cuttings transport system). These systems are used on offshore rigs globally to reduce the environmental impact of offshore drilling, increase overall drilling efficiency, and to better enable wells to be drilled in challenging formations.

Scott McKaig, Transocean’s Director of Technology & Digital Solutions, will join Enhanced Drilling’s Board.

“We have been collaborating with Enhanced Drilling for a couple of years and have been impressed with their capabilities,” McKaig said. “When we saw alignment in our approach to managed pressure drilling, it made sense to support Enhanced Drilling’s development efforts. We believe that by working with Enhanced Drilling and the shareholder group, we can lower operations integrity risk, increase overall well efficiency, and reduce managed pressure drilling costs. We are excited to bring our capabilities and expertise to the team as we work to accelerate the realisation of these goals on a global scale.”

The Executive Chairman of Enhanced Drilling’s largest shareholder, EV Private Equity, said he welcomes Transocean as the newest shareholder of Enhanced Drilling. 

“With Shell Ventures, IKM, EV and now Transocean onboard, we have a powerful shareholder group backing Enhanced Drilling,” EV Private Equity’s Kjell Jacobsen said. “Together, we have an unrivalled capability to develop and to implement new technology the industry is seeking to gain significant efficiencies and thereby contribute to sustainability of our sector.”

Press contact

All media inquiries should be directed to VP Sales Bernt Eikemo.

Mobile: +47 977 27 760

Email: beei@enhanced-drilling.com

 


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