The boss of a newly formed group of three businesses has vowed to come to the rescue of North Sea oil and gas companies by laying on badly-needed well intervention services.
Paul Landers said TNW Group, headquartered in London, will pool its resources to improve flow from wells at a low cost and with a quick turnaround time.
TNW, which stands for The New Way, is made up of well services firm StimLite and GB Seismic, both based in Leicester, and UCS, a contracting supply company.
Paul Landers, who is the group’s chairman, said a cost efficient well stimulation service was badly needed at a time when operators are struggling to increase bottom line income.
Mr Landers, who has 30 years’ experience of working for global exploration and production companies, said: “Improving the recovery of hydrocarbons from mature fields and new, small pools with lower cost is what TNW is about.
“Everyone has a view on the future of the North Sea oil and gas industry just now, but I am pleased to say that TNW is taking immediate and practical action to address the issues of high costs and the need for innovation.
“We are excited to breathe life into addressing these pain points for the industry through clever collaboration and innovation.
“Anything TNW can do to increase the life of a platform is good for our clients, the industry and ultimately good news for the UK economy and employment market.
“Our long-term goal is to use the UKCS as a launch pad for our services to the world oil and gas market.”