Caledus, the Aberdeen-headquartered well construction technology oil and gas service sector business, has signed an agreement with Houston-based Cannon Services Limited which will see a range of innovative products and solutions introduced to the North Sea completions market.
Caledus will be the North Sea and Europe representative for Cannon Services' range of control lines and cable clamps which are used in the completions phase, particularly in artificial lift, an increasing activity in the region. Cannon Services is the world's leading supplier of protection systems for downhole completion control lines and cables.
Under the agreement, Caledus will exclusively offer Cannon's range of technologies in the UK, the Netherlands, Norway, Denmark and Germany.
As the North Sea and other areas mature, an increasing number of wells are requiring artificial lift technologies to maximize recovery, creating an expanding market.
Paul Howlett, CEO and co-founder of Caledus, said, "Our agreement with Cannon Services is a recognition of our commitment to diversify and expand our activity in our home market at a time of challenge for the industry
"The majority of our products and services are focused on providing drilling total depth solutions, but our relationship with Cannon Services will enable us to us deliver total depth solutions for the completions sector as well. In particular, Cannon's products will complement very well our Disposable CleanUPÔ Tool and NaviGATORÔ Sub.
"Leveraging off the expertise that we have between us, we envisage that Caledus and Cannon Services will create a new range of solutions for the completions market in the North Sea, and we would hope this relationship would extend to other regions in future."
Kurt Hickey, COO of Cannon Services Limited said, "Our product line is hugely successful around the world and we look to bring that success to the North Sea through our relationship with Caledus.
"The maturity of the industry in the North Sea and the fact that more and more completions are being run on cables and control lines mean it is entirely appropriate for us to focus attention on this sector.
"Our model of delivery is of rapid deployment combined with providing bespoke solutions to specific well challenges and in Caledus we have found a like-minded company. We are extremely excited by the potential this alliance can bring to the industry."
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