30/08/2022

• Marwell has now launched a new company to focus on utilizing composite materials in carbon capture, geothermal and oil & gas wells based in Norway.

• The new company, Extender AS, has developed a unique composite tubular technology which has 80% lower density than steel and is impervious to corrosion.

• Extender AS shall build up an organization both in Norway and other key regions around the world to support growth.

• Marwell Group have an ambitious growth strategy which will see other new technologies added to the portfolio in the near future.

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Marwell have completed a strategic investment and establised the Marwell Group. As part of this strategy a new company, Extender AS, has been launched today to focus on the utilization of composite materials for downhole applications.

 

Following on from a successful development project funded in part by Innovation Norway, the new company has developed a unique composite tubular technology which aims to extend the length of wells and replace costly corrosion resistant alloy materials. With applications in Co2 storage, geothermal and Oil & Gas wells the company will address a broad range of challenges in the energy industry.

 

Extender AS will add several new employees to the organisation over the next 12 months based at its Norwegian headquarters. The company will then expand to other key regions in order to support growth.

 

Specialising in wellbore construction and completion, Marwell was established in 2019 and collaborates with leading suppliers and service companies to offer tailored solutions. Since the companies establishment, Marwell has gained a reputation as the leading independent completion expert in Norway.

 

Geirmund Sætre, Technology Manager - Marwell Group, commenting on the launch of Extender AS: “Today we realize a major milestone for Marwell Group. The launch of Extender AS is the start of an ambitious growth journey which will see us establish operations in several countries. After a phenomenal effort from our engineering team we have developed a product which is ready for release to the market having been tested with outstanding results.”

 

-ENDS-

 

ABOUT MARWELL

Marwell is an independent company specialising in wellbore construction and completion equipment. Established in 2019 in Stavanger, its goal is to bring new and innovative tools to markets where they can provide benefits to operators. Collaborating with some of the industry’s leading suppliers and service companies, Marwell’s expert engineering team further develop field proven technology to deliver a unique solution for a given well.

 

Saving operators time and money, while also improving performance, Marwell’s speciality lies in its well-first thinking, offering a bespoke approach to ever-more complex problems.

 

For more information please visit www.marwell-tech.no or www.extender.no

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