Welsh Businesses Team Up to Form New Company
Two Welsh businesses, which provide specialized geological services for the oil exploration industry around the globe, have formed a new joint venture company.
Future Geoscience Ltd, a collaboration between Hafren Scientific Ltd based in Mid Wales and PetroStrat Ltd whose headquarters are in North Wales, aims to offer ‘unrivalled specialized geological services and products for the oil industry’, according to a company statement.
“The joint venture brings together probably the largest and most experienced biostratigraphy and chemostratigraphy service companies in the world with the aim of providing comprehensive, integrated stratigraphy solutions for our clients,” said Tim Pearce, chief executive of Hafren Scientific Ltd, in a company statement.
Paul Cornick, managing director of PetroStrat Ltd, said both companies have ‘considerable’ in-house laboratory capability and capacity, which will provide clients with a ‘unique opportunity to acquire fully integrated, data-rich geological solutions to help de-risk their operations’.
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