Boot & Coots Enters Strategic Alliance in Norwegian Energy Market
Boots & Coots and add energy have entered into a cooperation agreement to be able to market and offer an integrated risk management solution covering blowout prevention, mitigation, response and related services.
"This agreement gives Boots & Coots instant exposure to producers working in the prolific Norwegian Continental Shelf as well as worldwide, and builds on the offerings we acquired from John Wright Company," said Jerry Winchester, president and CEO of Boots & Coots. "Both companies are focused on safety, compliance, reduced emissions and cost efficiency as key drivers in the industry, and combining strengths and efforts on well control projects will provide the market with a complete solution to these unpredictable and complex events," continued John Wright, Boots & Coots' new senior vice president of technology.
"Our strategy is to build add energy into a preferred supplier of competence and innovative solutions combining new solutions and experience in niches of the energy market," commented Stig H. Christiansen, CEO of add energy. "In this process strategic agreements that provide complementary strengths will be an important building block in combination with both organic and structural growth and selective internationalization."
Added Dr. Ole B. Rygg, Head of Drilling & Production in add energy and managing director of add wellflow, "We are very pleased with this agreement. Our companies are complementary both in terms of strategic focus, service line and geography. We are convinced that this cooperation will add value to our clients and therefore to our companies."
Under the agreement, Boots & Coots and add energy will cooperate on well control response and blowout prevention related risk and engineering services in Norway and on transient hydraulic simulations worldwide. Houston based Boots & Coots has over 30 years of experience in pressure control and is recognized throughout the oil and gas industry for this expertise. With more than two decades of operational experience, Norwegian based add energy is a unique service provider aiming to provide the energy industry with the power to perform. Through its subsidiary company add wellflow, the group has over the last twenty years grown to be recognized as the leading supplier of dynamic simulations and flow engineering for well control incidents and contingency planning.
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