Norway-based oilfield services firm Aker Solutions has bought Managed Pressure Operations International (MPO).
MPO, registered in Cyprus with operations in Singapore, Dubai, Jakarta and Houston, has developed a next generation of continuous circulation, riser gas handling and managed pressure systems.
Aker said the move put it at the forefront of technology development in the market for managed pressure drilling (MPD).
MPO currently employs 100 people across its operations. The firm’s revenues are expected to continue to increase sharply in the coming years, from revenue of around US $30million in 2012, said Aker.
"MPO has proven technically-superior products and the ability to adapt and cater to a client's specific needs. We are pleased to include their offerings in Aker Solutions' portfolio of products, systems and services. The company has a solid reputation as both a product and a service provider, and already provides services to major drilling contractors and oil companies," said Thor Arne Håverstad, head of Aker Solutions' drilling technologies business.
"Managed pressure drilling is a key safety technology for exploration drilling, high pressure high temperature prospect development, ultra deepwater of pre-salt carbonate reservoirs, as well as a drilling efficiency tool when used consistently like other game changing technologies like the top drive," said Charles Orbell, who co-founded MPO in 2008.
"Currently, deepwater exploration drilling is exposed to challenges related to the issue of small gas volumes with high pressure flowing into the riser and escalating through the riser to the surface, causing potentially dangerous 'gas-kicks,’” said Christian Leuchtenberg, co-founder and chief technology officer of MPO. “MPO has developed a riser gas handling system that includes a quick closing annular blow-out preventer connected to the top of the riser, which can capture and safely transfer this gas off the rig,"
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