IKM Acquires Norwegian Oiltools

IKM has announced an acquisition of Oiltools, a Norwegian company established in September 2000.

Oiltools has provided solutions for slop treatment and cutting handling of several major drilling operations in the Barents Sea, North Sea, UK, Greenland, Mexico and the Falkland Islands.

Oiltools and IKM Testing complement each other and will offer complete solutions that include pumping of cuttings from the seabed with MRR system and pumping, cleaning and waste management topside.

The Mud Recovery without Riser system (MRR) expands on IKM’s successful Cuttings Transport Services (CTS). The new generation MRR system collects drilling mud and cuttings during the top-hole section of offshore wells and returns them to the surface. It also provides zero discharge environmental drilling capability. IKM’s MRR is the latest generation technology in this field and is provided to clients on a global basis.

“We believe that the companies will become an attractive partner for operators / and rigg companies. Combined with our expertise and experience we will provide further growth from existing and new customers and markets,” says Lauritz Flåten, IKM Testing.

The company will change its name to IKM Oiltools and will become a subsidiary of IKM Testing.

Press Release, April 28, 2014