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Parker Wellbore acquires International Tubular Management

Published by , Deputy Editor
Oilfield Technology,

Parker Wellbore has acquired International Tubular Management (ITM) of Norway. The acquisition will allow Parker Wellbore to enter the Norwegian market to better serve customers along the Norway Continental Shelf.

Parker Wellbore will leverage the existing technology utilised by ITM while applying lessons learned from its work around the globe to deliver operational and service delivery excellence to customers in Norway. The company is committed to improving and expanding its machine shop services to current and future customers in Norway and the UKCS for OCTG (Casing) and Premium Rotary (Drill Pipe) tubular repair.

Locations in both Tananger and Florø allow Parker Wellbore to implement a circular economy service line model consistent with its focus on energy transition and energy security.

Parker Wellbore CEO Sandy Esslemont said: “With future growth in the North Sea, this acquisition provides an excellent base of operations to bring the global expertise of Parker Wellbore and the regional expertise of ITM together to support and grow the customer base.”

“Additionally, this acquisition provides instant scale for the growth of our Drilling Rental Tool, Pressure Control, Well Intervention and Operations and Management service lines. The strategic locations in Tananger and Florø will improve our ability to react quickly to our customers’ needs through our global assets and support from our EAFC GeoMarket locations in the UK and the Netherlands.”

The strategic acquisition includes the onboarding of ITM’s personnel to Parker Wellbore. This opportunity provides new team members the potential for accelerated career progression and development in Parker Wellbore’s global operations as the business grows in the coming years. All new employees will be trained in the company’s Integrated Management System, which provides teams with the foundation to unrelentingly pursue service delivery, competency and customer satisfaction.

Parker Wellbore’s priority is for a safe and seamless transition, along with high levels of service delivery quality and obsessive customer focus.

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