Under the agreement, Vestdrill will market and supply customers in Norway, Sweden, Denmark, Greenland and the Faroe Islands with the Peak Group's P1 and C1 software applications for the time-cost risk planning of well construction activities plus, future software developed by Peak.
The expansion into the Scandinavian market is part of a process of global diversification by The Peak Group which now has premises in Aberdeen, Houston (USA), Perth (Australia), Jakarta (Indonesia) and an operational base in Brunei.
The Peak Group managing director Andrew Paterson said: "It has been our long term intention to establish ourselves in Scandinavia, and we see the agreement with Vestdrill as the most effective way of doing that.
"Vestdrill is a very highly respected company with an established network of contacts within the Scandinavian industry. I am sure this agreement will reap benefits for both of us."
Vestdrill manager Terje Lokke-Sorensen said: "We see great potential for the delivery of P1 and C1 to companies in this part of the world.
"P1 and C1 are very effective tools in assessing the risks of drilling and well operations. We are seeing a growing number of independent operators in Scandinavia who could benefit significantly from the application of P1 and C1 in their planning processes, and the response from the market to these products has been extremely positive."
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