ProVenture invests in the Trondheim/Orkdal based Jagtech AS
Jagtech has developed a unique solution for removing magnetic iron particles from drilling mud. Their magnetic filter MAPS outperform existing magnetic filters in the market.
The value proposition for the drilling contractors and end clients are reduced CAPEX through improved directional drilling performance, improved quality of LWD data and reduced shaker screens and mud pump wear.
Prototypes have been tested at five drilling rigs offshore Norway and one is installed on a rig that will be drilling offshore Brazil. The extensive testing confirmed the value proposition.
“Jagtech’s unique and thoroughly tested MAPS product has a large international market potential. We look forward to develop this business together with Jagtech’s very experienced team that already has demonstrated impressive execution capabilities.” – says David Lysne, Managing Partner in ProVenture.
Read more about Jagtech here: www.jagtech.no