Marwell has completed a strategic investment and established the Marwell Group. As part of this strategy a new company, Extender AS, has been launched to focus on the utilisation 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 and 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 suppliers and service companies to offer tailored solutions. Since the company’s 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, says, “Today we realise 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.”