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2021-10-28

Nekkar ASA: Forms “Inteliwell” Joint Venture together with Transocean

28 October 2021 – Nekkar ASA’s (Nekkar) subsidiary company, Intellilift AS, has established a joint venture (JV), Inteliwell, with a subsidiary of Transocean Inc. (Transocean) for the purpose of commercialising products and services based on a digital well construction solution that is currently being developed in close cooperation between the JV partners.

Inteliwell’s digital well construction solution will integrate digital systems for well construction, drilling control and real-time data monitoring.  The software solution interfaces with the drilling rig’s control system to autonomously execute tasks outlined in the well plan, serving to expedite the well construction process.  Additionally, an integrated real-time monitoring platform will measure downhole progress and evaluate conditions in the well to provide critical, precision-enhancing feedback to the drilling control system.

“Intellilift has already digitized and facilitated increased automation and remote-controlled operations onboard offshore vessels and drilling rigs.  Through this JV with Transocean, Intellilift will benefit from the driller’s global footprint and well construction expertise, accelerating adoption of this disruptive rig automation solution,” says Preben Liltved, CEO of Nekkar ASA.

Stig Trydal, managing director of Intellilift added: “In short, the JV will provide software solutions (SaaS) that allow operators to further improve the consistency of their operations while reducing drilling costs through more reliable and faster drilling operations”. 

Intellilift, which is owned 50.67% by Nekkar, will contribute development resources, licenses for existing software and other services into the JV, which has been established as a separate legal entity.  Capital contributions by Intellilift are currently not contemplated.  Intellilift will hold a 33% ownership in the JV.   

Disclosure regulation

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

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About Nekkar ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years' heritage from the world's number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy and renewables and aquaculture.

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