HOUSTON, Nov. 19, 2002--Weatherford International Ltd. announced that it has acquired the remaining 60% of Norwegian-based Optoplan, specialists in optical fiber sensor instrumentation and optical fiber Bragg grating technology. This move adds research, engineering and manufacturing capabilities for permanent in-well optical sensing systems to Weatherford's worldwide intelligent well team.
" With the acquisition of Optoplan, we have joined forces with an organization that has the fundamental competence and practical experience to contribute significantly to our commercialization of optical fiber sensing in the oil and gas sector, " said Stuart Ferguson, President of Weatherford Completion Systems.
Optoplan was founded in 1985 as a spin-off from the fiber optic technology group at the Technical University in Trondheim, Norway. Optoplan has achieved a list of notable firsts in that timeframe, including installing: 1) the first optical pressure and temperature gauge in a producing well, 2) the first optical gauge in a subsea well, and 3) the first optical subsea wellhead connector. Optoplan also has led the development of in-well seismic and riser strain monitoring systems; both emerging markets for optical fiber sensors.
" Weatherford has demonstrated great commitment to the benefits of optical fiber sensing for the oil industry. At Optoplan we are excited about the opportunity to marry our proven product development track record with Weatherford's completion technology and global distribution network," said Morten Eriksrud, Managing Director of Optoplan.
Weatherford is a recognized leader in intelligent completion technology. Weatherford's optical fiber sensing technology, coupled with hydraulically actuated flow control systems, allows real-time production optimization and life-of-field reservoir management. Optical permanent monitoring systems are recognized for simplicity, reliability, longevity and the ability to upgrade easily as technology advances.
Weatherford is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs approximately 15,000 people worldwide.
For further information please contact:
Christine McGee (713) 693-4362
Liz Paddon (44-1224) 225-269