Red Spider Appoints Development Manager for Norwegian Operations

Red Spider Technology has appointed a Business Development Manager in its Norwegian subsidiary Red Spider Technology AS. This marks the company's continuing expansion in Norway, where Red Spider aims to increase its turnover to £1million (11.5 million NOK) by September 2006.

Jorn Carlsen, 34, has been appointed as Business Development Manager, Scandinavia. His role is to identify new opportunities for Red Spider Technology AS and steer the business' future development, in line with the company's objective of bringing value adding solutions to the market. Jorn will be responsible for solving client problems through the utilization of new and existing Red Spider Technology products and tools. He brings with him over 15 years experience in Senior Technical and Management positions, working with Baker Oil Tools in Denmark, Norway and Middle East and more recently as operations manager based in Dubai.

Hans Kristian Hegland, General Manager of Red Spider Technology AS said, "Since setting up the Norwegian subsidiary of Red Spider Technology s months ago we have gained a foothold in the Norwegian market, where we are now running offshore operations on a regular basis and receiving very good customer feedback on our industry leading Safety Valve Protection systems for through tubing rotary drilling (TTRD) operations.

"Red Spider Technology AS was established in October 2005 in response to the demand for our services from Norwegian operators, who have also embraced products such as the Hydraulic RED remote equalisation device and our Water Injection Valve. We opened the Red Spider office in Norway with the aim of building on the company's initial success in this area and since then we have successfully deployed Red Spider products and services in a number of fields on the Norwegian Continental Shelf. I am very pleased to have Jorn join us at this crucial time to help take the business forward in this exciting market."

Chris Oliver, Managing Director of Red Spider Technology said, "Jorn's appointment demonstrates that Red Spider Technology continues to attract the best people in the completions industry, despite the fierce competition that is apparent in today's market. He brings with him a wealth of experience and knowledge through his long and successful career with the world's leading completions company. There is clearly excitement about the approach we are taking in the Norwegian sector and beyond."