SLB Acquires HydraWell

Acquisition strengthens SLB's well intervention and decommissioning portfolio with innovative P&A technology

SLB has completed the acquisition of HydraWell Intervention AS, a leading Norway-based technology company specializing in plug and abandonment (P&A) and well integrity remediation. The addition of HydraWell's proprietary perforate, wash, and cement (PWC) technology significantly enhances SLB's portfolio, offering a differentiated solution designed to deliver substantial cost and operational efficiencies for customers as the industry faces a growing wave of well decommissioning.

"This acquisition represents an important step in SLB's strategy to deliver transformative solutions for our customers," said Frederik Majkut, president, Reservoir Performance, SLB. "By integrating HydraWell's groundbreaking technology with the global expertise and intervention capabilities of SLB, we are uniquely positioned to redefine operational efficiency and cost-effectiveness in well decommissioning and other well integrity remediation challenges."

Innovative Technology for Well Abandonment

HydraWell's PWC technology enables the creation of high-quality, rock-to-rock barriers in wells without the need for milling or casing retrieval. This innovative approach, protected by robust intellectual property and validated through a strong record of successful field deployments, streamlines operations and reduces both complexity and cost. Supported by advanced computational fluid dynamics modeling, the PWC process ensures effective wellbore cleaning, barrier placement, and verification.

Customer Value and Versatility

The acquisition positions SLB to provide customers with reliable, cost-effective solutions for mature assets across a broad range of well integrity and decommissioning scopes. HydraWell's technology offers a cost-effective alternative to traditional methods such as section milling or casing cut-and-pull, and its versatility extends beyond permanent abandonment to support zonal plugging for slot recovery and other well integrity remediation needs. This aligns with SLB's commitment to helping customers optimize production and recovery while meeting evolving regulatory and environmental obligations.

Commitment to Innovation and Growth

The plug and abandonment market is set for significant growth as operators address increasing P&A obligations and focus on responsible asset retirement. The acquisition underscores SLB's dedication to driving innovation and delivering integrated solutions that enhance operational efficiency and reliability for customers worldwide. By combining HydraWell's proven technology with SLB's global reach and expertise, the company is well-positioned to lead in responsible well decommissioning and integrity management.