Welltec has agreed a multi-year intervention contract through an alliance partner to support Equinor operations, in an agreement estimated to exceed NOK 1 billion ($108 million) for the fixed period only.
Welltec has completed the part acquisition of a downhole plug business derived from Northstar Downhole Specialists. The agreement is centered around the ODIN High-Pressure High-Temperature plug – the only retrievable bridge plug on the market validated to seal differential pressures up to 15,000 psi.
Welltec launched a fourth business segment, Downhole Isolation, expanding wireline-enabled, rigless intervention services. It includes Annular, Leak, and Reservoir isolation solutions, combining proven technologies with new IP, with phased downhole plug releases planned throughout 2026.
