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Interwell announced today acquisition of additional shares in Vosstech AS

Interwell AS, where Ferd Capital is the largest shareholder, increased the ownership interest to 66,34% (previously 33,4%), and the remaining shares of 33,66% are held by the founder of Vosstech AS, Mr Stig Ove Bj

Vosstech is located at Voss, and will continue to be located at Voss as the center of excellence supporting research and development including sustaining engineering relative to global operational requirements. Further Vosstech will be incorporated into Interwell´s organisation.

Adding Vosstech’s unique technology to Interwell’s toolbox will further enhance our product offering of innovative and patented technology used for applications within well barrier and well integrity for the global oil & gas industry. Vosstech and Interwell will use all synergy effects between the two companies to continue developing next generation products for completion and sub-sea market in addition for use within well intervention.

The Vosstech Plug (VT Plug) is an ISO qualified barrier plug utilizing glass disc technology. Removal of the glass disc barrier is achieved without using explosives. Instead, the glass is removed by using a unique activation mechanism.

Interwell will market, sell and operate the unique Vosstech VT Plug technology through our global footprint in Norway, Denmark, the Middle East, the UK, North America, and Malaysia. Other locations will be supported from one of our geo-region offices.