Welltec® Signs Technology Collaboration Framework Agreement With Shell

COPENHAGEN, Denmark, May 1, 2015 /PRNewswire/ --

Welltec A/S has entered into a technology collaboration framework agreement with Shell Global Solutions International B.V., an affiliate of Royal Dutch Shell plc, to improve existing or develop new technologies for global application in the energy industry.

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"Shell has been using our technology since our inception nearly two decades ago," says Welltec's founder and CEO Jorgen Hallundbaek. "We are proud to engage in this collaboration agreement with Shell, a well-known, well-respected developer and early adapter of technology for the oil and gas industry. It aligns and extends our ability to do for Shell what is at Welltec's core; delivering game-changing technologies that truly impact our industry."

Welltec® is the world's largest provider of e-line intervention solutions, including the Well Tractor® and a full portfolio of innovative technology for milling, clean-out and mechanical solutions. In well construction and lower completions, Welltec's novel, expandable metal products continue to evolve and now provide an alternative to cement as a primary well barrier.

Martin Skovbjerg – +45-88-53-82-35

SOURCE Welltec