Enersol to Acquire Leading Downhole Visualization Company, EV Holdings
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ADNOC Drilling Company and Alpha Dhabi Holding said their joint venture Enersol has agreed to acquire a 100 percent equity stake in EV.
With corporate headquarters in the United States, EV is a leading global provider of vision-based diagnostics and analytics services for the oil and gas sector. The company has a global footprint with a presence in 36 countries, including the UAE and Saudi Arabia.
EV provides well diagnostics services by leveraging a range of solutions that resolve highly complex wellbore issues across the well lifecycle.
EV’s specialized well diagnostic solutions are offered through market-leading 360 degree downhole cameras, integrated camera-ultrasound technology and other tools that generate vivid and visual diagnostic information to enable the rapid and effective evaluation of technically challenging well issues.
EV has also developed AIVA, a tool agnostic cloud-based data storage, visualization platform including through the application of AI and machine learning techniques to accelerate data transfer, storage and analysis.
By leveraging the EV Technology Center dedicated to research and development in the UK, EV is home to 116 patents and has a successful track record of bringing new and innovative products to market. Over the next two years, EV is targeting the introduction of a strong pipeline of products on account of its R&D capabilities, including pipeline visualization and software analytics.
This is Enersol’s third acquisition, having last week signed an agreement to acquire 51 percent of NTS Amega (NTS), a leading global manufacturer of advanced precision equipment and solutions provider for the energy sector, subject to customary and regulatory approvals. Enersol also has agreed to acquire an additional stake (to a total 67.2 percent majority) in Gordon Technologies, a U.S.-based provider of measurement while drilling services.
Enersol is actively advancing plans to acquire and invest in multiple businesses and foster a scalable ecosystem that will enhance market value and position the JV as a technology-centric investment platform to the energy sector.
EV, a downhole visual analytics company, helps well operators across the energy industry to identify, understand, and resolve the most complex of wellbore issues.
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