Norwegian oil and gas solids management firm FourPhase break into US market

Norwegian based oil and gas solids solutions firm, FourPhase, has secured a  six-figure trial including the option of 12-month extension with one of the major operators in North America.

The contract is for the trial installation of a sand management system for an offshore platform in the Gulf of Mexico, which is planned for July/August, and is the first time FourPhase’s patented technology will be used in the US market.

FourPhase’s unique products are suitable both for interventions as well as continuous production applications and has to-date significantly contributed to increased oil recovery (IOR) on existing solids producing fields and wells for multiple major international operators.

Øyvind Heradstveit, FourPhase CEO says: “Moving into the US market is very much a part of FourPhase’s growth strategy. There is great potential within both the US offshore and onshore market for our technology and we’re delighted to secure a trial with one of the majors”.

“As the oil and gas industry starts to recover, we are seeing strong sales growth and are moving into new geographic markets where we can help operators unlock the potential of shut-in wells with our unique solids management technology.” 

Over the past year FourPhase has increased its international presence, winning contracts in the UK, Malaysia, Denmark and Tunisia. Earlier this year the company also opened a new office in Westhill, Aberdeen.

FourPhase is a portfolio company of EV Private Equity, a global oil and gas specialist investor with offices in Stavanger, Houston and Aberdeen.

For more information visit www.fourphase.com