1. November 2013 Kjeller, Norway.

Institute of Energy Technology (IFE) announced today that they have spun out a new entity Restrack AS.

IFE has over the last 30 years developed tracer technology assisting oil companies in understanding the performance of their reservoirs. Their services have been applied globally over a sequence of years. Restrack AS will now deliver commercially well to well tracer services to the petroleum industry. Tracers are injected into injection wells (water and gas), and the tracer responses are measured top-side at nearby production wells. This allows the oil companies to obtain a better understanding of their reservoirs, enhancing their opportunity to increase oil recovery.

RESMAN will acquire 14.9% of Restrack AS together with IFE (60.1%) as the majority owner and employees in the new company (25%). 12 researchers from IFE will join the start-up of the venture. The team will continue working closely with IFE’s researchers within tracer and petroleum technology. The office location of the new venture is at IFE’s facilities at Kjeller, Norway.

RESMAN see great opportunities for Restrack AS, both in terms of their possibilities for growth and in terms of future cooperation between the two companies. In a world with a growing demand for oil and gas, methods for increasing oil recovery will become ever more valuable. Both RESMAN’s and Restrack’s services, independently as well as combined, are central in order to enable the petroleum industry to better manage the world’s oil and gas reserves.

RESMAN whishes Restrack AS a long and prosperous future!

By signing up to the newsletter you accept our privacy notice.

HEADQUARTERS
Send email
+47 916 71 333

NORTH AMERICA
Send email
+1 504 239 7705

LATIN AMERICA
Send email
+1 346 257 1713

EU | RUSSIA | CIS
Send email – Stavanger

Send email – Russia CIS
+47 9173 6519
+79 16 083 1548

RESTRACK HQ
Send email
+47 9953 5162

FAR EAST AUSTRALASIA
Send email
+60 12241 2056

UK | AFRICA
Send email – Aberdeen
+44 7899 763463 (UK)
+44 7398 450168 (AFR)

MIDDLE EAST
Send email
+971 56 115 4107

By signing up to the newsletter you accept our privacy notice.

/company/resman

HEADQUARTERS
Send email
+47 916 71 333

LATIN AMERICA
Send email
+1 346 257 1713

NORTH AMERICA
Send email
+1 504 239 7705

RESTRACK HQ
Send email
+47 9953 5162

EU | RUSSIA | CIS
Send email – Stavanger

Send email – Russia CIS
+47 9173 6519
+79 16 083 1548

FAR EAST AUSTRALASIA
Send email
+60 12241 2056

UK | AFRICA
Send email – Aberdeen
+44 7500 229671 (UK)
+44 7398 450168 (AFR)

MIDDLE EAST
Send email
+971 56 115 4107

Resman