Dhahran, Saudi Arabia and Sandnes, Norway –April 2013 - Saudi Aramco Energy Ventures LLC (“SAEV”), the corporate venturing subsidiary of Saudi Aramco headquartered in Dhahran, today announced its first direct investment into Sekal AS, a company that offers real time decision support and automation software, together with related consultancy and support services to the oil and gas industry.
The company is commercializing two software solutions, DrillScene and DrillTronics, that are used in drilling operations where rigs have real time data streaming capabilities. DrillScene is a self-calibrating system that provides real-time early warnings of impending problems in drilling operations. The driller can then respond quicker to take corrective actions, thereby reducing drilling down-time and improving drilling performance. DrillTronics provides safeguards, safety triggers and added automation features to existing drilling control systems to ensure the well integrity during the drilling operation.
CEO of SAEV, Ibrahim Buainain said: “We are delighted to announce our SAEV’s first direct investment into Sekal. We believe Sekal’s technology is truly differentiated compared to competing alternatives in the market, and will have a significant impact in increasing efficiency, reducing downtime and reducing costs of drilling in Saudi Aramco’s operations”.
About Saudi Aramco Energy Ventures - Saudi Aramco Energy Ventures LLC (SAEV) is the corporate venturing subsidiary of Saudi Arabian Oil Company (Saudi Aramco), the world’s leading integrated energy company. Headquartered in Dhahran with offices in North America and Europe, SAEV’s mission is to invest globally in start-ups and high growth companies with technologies of strategic importance to its parent, Saudi Aramco.
For more information about SAEV, please visit www.aramcoventures.com
About Sekal – Sekal AS is headquartered in Sandnes, Norway and was incorporated in 2011.
Sekal supplies solutions that employ real time data from a rig to perform advanced monitoring and automated drilling by utilizing advanced models. The solutions provide value by early detection of down-hole condition deteriorations either as a monitoring service or as a fully integrated solution with the drilling control system. The result is a safer and more efficient drilling process. The company was incorporated in 2011 with headquarter in Sandnes and offices in Aberdeen and Houston. The main owners are IRIS, Statoil Technology Invest, SåkorninVest and now Saudi Aramco Energy Ventures.
For more information about Sekal, please visit www.sekal.com