HitecVision V

Core Energy

• HitecVision V
• Exploration & Production
• Norway
• Current portfolio
• Core Energy

Core Energy is a start-up oil and gas company established with the aim of capturing the value potential in and around mature oil and gas fields on the Norwegian Continental Shelf (NCS) The company will acquire interests in producing fields on the NCS and create value through focusing on increased oil and gas recovery, near field exploration and adjacent field developments.

• Segment: Exploration & Production
• Location: Norway
• Status: Active
• Year of investment: 2010
• Year of sale:  
• Web page: www.coreenergy.no

Stream

• HitecVision V
• Norway
• Current portfolio
• Stream

Stream is a leading provider of products, solutions and services connected to valves and instrumentation within the energy and offshore business. The company is a leading supplier to the Norwegian oil and gas industry and represents several of the world’s leading suppliers in the Norwegian market.

• Segment: MMOD
• Location: Norway
• Status: Active
• Year of investment: 2009
• Year of sale:  
• Web page: www.stream.no

Align

• HitecVision V
• Norway
• Current portfolio
• Align

Align is a leading provider of process and safety-critical products and solutions as well as a complete range of services that maintain lifecycle-long performance. This perspective ensures optimal operations and lower lifecycle costs. Align has a strong position and extensive experience in selected niche markets within the Norwegian oil and gas industry and the maritime industry, and selected international markets.

• Segment: Field Development
• Location: Norway
• Status: Active
• Year of investment: 2009
• Year of sale:  
• Web page: www.align.no

Tampnet

• HitecVision V
• MMOD
• Norway
• Current portfolio
• Tampnet

Pioneering the industry, Tampnet has developed a high capacity, resilient and low latency communication network of fibre backbone cables and radio links, serving both the Norwegian and the UK offshore oil and gas sector. Our goal is to become the preferred offshore network provider, by constantly expanding the infrastructure and improving the capacity.
Tampnet was established in 2001 by Statoil. In August 2010, HitecVision acquired Tampnet to further develop the company in the North Sea and in selected international markets in order to enable our clients to fully implement their Integrated Operations strategies.
Tampnet is an authorized telecommunications operator in Norway and in Australia.

• Segment: MMOD
• Location: Norway
• Status: Active
• Year of investment: 2010
• Year of sale:  
• Web page: www.tampnet.com

Reef Subsea

• HitecVision V
• Field Development
• MMOD
• Norway
• Europe
• Current portfolio
• Reef Subsea

Reef Subsea AS is an expanding subsea services company. The company is headquartered in the UK, and has three operating units:

• Technocean, providing subsea construction support services and inspection, repair and maintenance (IRM) services to the oil and gas industry and to offshore wind farms.
• S3, providing survey, ROV, IMR, decommissioning and geotechnical subsea services.
• Scan Mudring, delivering subsea dredging and excavation services to oil and gas customers.

Reef Subsea is a 50/50 joint venture between Oslo Stock Exchange-listed GC Rieber Shipping ASA and HitecVision.

• Segment: Field Development / MMOD
• Location: UK / Norway
• Status: Active
• Year of investment: 2010
• Year of sale:  
• Web page: www.reefsubsea.com

Grenland Group

• HitecVision V
• Field Development
• MMOD
• Norway
• Current portfolio
• Grenland Group

Grenland Group is a full-service engineering, procurement and construction company situated in 13 different locations in Norway, in addition to Shanghai and Kuala Lumpur. Grenland Group’s expansion is the result of a market-driven demand for complex solutions within field development, fabrication, marine & prosess solutions and maintenance & modifications.

The company mainly serves clients in the global oil and gas industry. Grenland Group is organised into the following business areas:

• Grenland Group Solutions
• Grenland Group Offshore Partner
• Grenland Group Fabrication

With this organisation, Grenland Group is better able to fulfil customer needs and obtain their satisfaction by providing flexibility, competence and capability to make deliveries within the full-range EPCI spectre, from conceptual design through engineering and fabrication to maintenance and operational support.

• Segment: Field Development / MMOD
• Location: Norway
• Status: Active
• Year of investment: 2009
• Year of sale:
• Web page: www.grenlandgroup.com

Axon Energy Products

• HitecVision V
• Drilling and Downhole
• Norway
• USA
• Current portfolio
• Axon Energy Products

Axon Energy Products is an acquisition platform in the drilling and well equipment segment.  The platform is headquartered in Houston Texas, and consists of several companies in Houston and Stavanger.

Hitec Products Drilling AS (HPD) is an independent, preferred provider of advanced, customised drilling solutions and well intervention systems for the offshore oil and gas industry. HPD has two distinct business segments: drilling solutions and well solutions, with a blue-chip customer base which includes oil majors, large oil service providers and drilling companies. 

Drilling Controls, Inc. (DCI) engineers, manufactures and sells primarily blow-out preventer (BOP) control systems, diverter controls and deepwater multiplex controls (MUX) for on- and offshore drilling rigs. The company has a significant installed base and customer relationships developed over 30 years in operation.

Church Energy Services, Inc. is a manufacturer of oilfield pressure control and flow control equipment.  Within its Pressure Control product line Church designs and manufactures a broad range of blowout preventers for both for drilling and well workover operations. The flow control product line includes gate and check valves for drilling applications such as choke and kill manifolds, chokes, flow control devices for drilling and production applications, and various types of valves for drilling, well completion and production applications.

• Segment: Drilling and Downhole
• Location: USA
• Status: Active
• Year of investment: 2008
• Year of sale:  
• Web page: www.axonep.com

Spring Energy

• HitecVision V
• Exploration & Production
• Norway
• Current portfolio
• Spring Energy Norway

Spring Energy Norway AS is an oil and gas company established by a group of Exploration & Production (E&P) professionals with extensive experience and an excellent track record from the Norwegian Continental Shelf (NCS). On average, the team members have more than 20 years of E&P experience. Their pool of expertise include management, sub-surface, reservoir, production, licensing rounds, business development and portfolio optimisation.

The company participates in exploration, appraisal and development projects on the NCS, with the objective of developing a risk balanced portfolio over the next 3 to 5 years. To secure an optimal mix of assets, Spring Energy will seek to develop its portfolio through licensing rounds awarded by Norwegian authorities as well as acquiring acreage in the asset market. The company will pursue growth opportunities in both mature and immature areas on the NCS, combining innovative exploration methods with advanced technology and high competence.

Spring Energy is qualified by the authorities both as a license holder and an operator on the NCS.

• Segment: Exploration & Production
• Location: Norway
• Status: Active
• Year of investment: 2008
• Year of sale:  
• Web page: www.springenergy.no

Merrick Systems

• HitecVision V
• Field Development
• Norway
• Current portfolio
• Merrick Systems

Merrick Systems, Inc. is an established market leader providing industrial information technologies for the upstream and midstream oil and gas industry. Recognized for its industry expertise and innovative technologies, Merrick is committed to delivering best of breed solutions to improve production operations extending oil and gas producing asset life, lowering lifting costs, increasing production and optimizing operations. Headquartered in Houston, Merrick is establishing a global infrastructure to sell, implement and support its technologies around the world.

• Segment: Field Development
  
• Location: USA
• Status: Active
• Year of investment: 2011
• Year of sale:  
• Web page: www.merricksystems.com