Schlumberger announced today that it has acquired Novatek Inc. and Novatek IP, LLC. (Novatek), U.S.-based companies that specialize in synthetic diamond technology primarily for the oil and gas industry.
The existing relationship between Schlumberger and Novatek has delivered industry-leading technologies, such as the Schlumberger StingBlade* conical diamond element bit, and has been an incubator of novel ideas that are being incorporated into Schlumberger’s newest drilling technology offerings. Building on this collaboration, the acquisition provides a new platform for Schlumberger to pursue its vision of continuously improving drilling performance for customers.
‘Novatek’s synthetic diamond manufacturing technology is already a key component of our drillbit offering,’ said Khaled Al Mogharbel, president, Schlumberger Drilling Group. ‘With the addition of Novatek, we will enhance our research, engineering and manufacturing capabilities and continue to work with our customers to accelerate field adoption of these innovative drilling technologies.’
David Hall, founder and president, Novatek added: ‘Since my father, Tracy Hall, synthesized the first manmade diamond 60 years ago, synthetic diamond technology has revolutionized the diamond cutting and drilling industries. Our new relationship with Schlumberger will help us to continue this legacy of innovative technology development.’
Novatek boasts a 60-year history of product development with a portfolio of more than 600 patents. Core development of synthetic diamond technology and other technologies will continue at the company’s lab in Provo, Utah, where most of the employees are based.
Source: OilVoice
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
