Digital pipe know-how in spotlight of Odfjell Know-how’s investment in Norwegian firm

The UK’s Odfjell Know-how, a poke-off of Odfjell Drilling, has purchased a 10% stake in a Norwegian neatly construction and neatly intervention alternate solutions provider, supporting the firm’s digital pipe know-how.

Odfjell Know-how made a strategic equity investment in Reelwell, purchasing a 10% stake in the company for NOK 40 million (round $3.8 million), which is ready to be extinct to develop and assemble the Norwegian company’s DualLink digital pipe know-how.

In addition to this, the companies extended their cooperation agreement to five years, with alternate solutions for five extra one-One year extensions.

Reelwell said that the goal of the partnership used to be to narrate synergies between its DualLink digital platform and modems with Odfjell Know-how’s intensive offshore abilities in gear deployment, repairs, and logistics.

Jørgen Peter Rasmussen, Executive Chairman of Reelwell, said: “We welcome Odfjell Know-how to our investor community as a resounding industrial accomplice, and I am gratified to welcome Elisabeth Haram as a brand new Non-Executive Director on our board. Reelwell and Odfjell Know-how will work closely together to narrate DualLink products and services to our purchasers. This is colossal recordsdata for the industry.“

In January, Reelwell launched the contract award from compatriot oil and gasoline player Vår Energi for the start of DualLink, with Odfjell Know-how performing as its strategic accomplice, representing the main collaboration below the cooperation agreement between the events.

Manufacturing and assembly are underway at Reelwell’s facilities in Sola, with the mission space to get underway later in 2025.

Reelwell is to blame for the final start of the contract, whereas Odfjell Know-how will provide the entire necessary drill pipe ingredients and tool and oversee totally different repairs necessities.