Saudi Aramco Energy Ventures LLC (SAEV) closed on an equity investment in Zi-Lift AS, developer of through-tubing-deployed artificial lift systems using permanent magnet motors and transmissions. “Reliable and easily deployable artificial-lift systems are a priority area of technology development for Saudi Aramco,” said Ibrahim Buainain, SAEV CEO. “Zilift’s technologies offer potential for time and cost savings in artificial lift deployment and for enhancing the output from large numbers of producing wells.”
(Pictured: Iain Maclean, CEO, Zilift)
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