September 8, 2008
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Home / Issue Archive / 2007 / November #11 / Weatherford Acquires Aquatic Company in Russia

№ 11 (November 2007)

Weatherford Acquires Aquatic Company in Russia

Acquisition augments the Company’s drilling technology expertise and Russian engineering infrastructure

Weatherford International Ltd. announced that it has acquired Aquatic, a privately held Russian company specializing in mechanical engineering design of advanced drilling and well construction systems.

This acquisition enhances Weatherford’s portfolio in three ways: 1) research and engineering capabilities, particularly in the areas of drilling and well construction technology; 2) expansion of Weatherford’s applications engineering infrastructure in Russia; and 3) expertise in the application of high-strength aluminum alloys, especially for drill pipe, tubulars and risers.

“Weatherford has been steadily increasing its footprint in the Russian market, which is vital to the company’s growth moving forward,” said Kamil Zakirov, Weatherford’s Vice President for Russia and the Former Soviet Union. “Aquatic’s expertise will enhance our integrated engineering capability in Russia. Additionally, Aquatic’s applications engineering and training capability will help us continue to build our local talent pool, aligned with our Russian clients’ needs and business drivers.”

“We have had a long association with Weatherford in development projects that influence the efficiency of well construction operations, “ said Mikhail Gelfgat, Chief Executive of Aquatic. “We are looking forward to this new phase of working together, improving our penetration of both the Russian and international markets.”

Founded in 1991, Aquatic has gained traction in the industry for its ability to offer integrated engineering solutions, advanced onshore and offshore drilling technologies, and the design and manufacture of customized equipment.  Aquatic’s innovations include the development of advanced drilling bottom-hole assemblies and high-strength aluminum alloy drill pipe, which offers improved dependability when drilling deep, vertical wells or long, high-angle wells.
 
Weatherford is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry.  Weatherford operates in over 100 countries and employs more than 35,500 people worldwide.

Source: Weatherford 

 

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