LONDON, June 12, 2020 /PRNewswire/ -- The CFI.co judges have presented Welltec, a global provider of hi-tech solutions to the energy sector, with the award for Most Innovative Technology Solutions Europe 2020.
The award reflects its role in climate change transitions for the energy industry. Welltec's highly versatile, cutting-edge products and services are designed to optimize the performance and integrity of all types of onshore and offshore wells, while enhancing safety and reducing environmental impact.
Some highlights from the CFI.co judging panel's findings include:
The judging panel's full report:
Welltec: Most Innovative Technology Solutions Europe 2020
Welltec was founded in 1994, but the robotic well solutions business concept had been percolating for much longer. As part of a university thesis project, founder and CEO Jørgen Hallundbæk pioneered a technology that would be a revelation to the oil and gas industry and form the basis of a multinational business with a workforce of nearly 1,000 professionals in 50 countries. Welltec operates with an entrepreneurial, can-do mindset and is constantly assessing situations and trends to provide cutting-edge products and services.
Sustainability is a core component of Welltec corporate strategy, and the company has been engaged in the fight against climate change for the past 25 years. Safety and environmental protection are paramount, with an advanced IT infrastructure and continuous training central to this focus.
The company is a trusted partner to its clients, providing them with innovative well interventions and completions, aimed at reducing carbon footprints and supporting all phases of a well's life from appraisal to plug and abandonment. More recently, Welltec has turned its attention towards renewables and geothermal resources by developing and adapting its technology.
Welltec attracts top talent and its teams take initial crude concepts to ground-breaking market solutions in record time. Its technology is deployed throughout the world by a truly international operations organization. Clients are assured of exacting standards of quality and safety as the business develops and manufactures everything in-house, including equipment and spare parts.
For its role in climate change transitions for the energy industry, the CFI.co judging panel presents Welltec with the 2020 award for Most Innovative Technology Solutions (Europe).
A global technology company, Welltec develop and provide efficient hi-tech solutions to the energy sector. Their cutting-edge products and services are designed to optimize the performance and integrity of a well, offering the most innovative thinking in completions and interventions.
Versatile and lightweight solutions are based on advanced engineering, clean technology, and a determination to enhance safety, while reducing environmental risks, fuel consumption and carbon footprints.
Welltec services are routinely deployed in all types of onshore and offshore well environments, including the most extreme and hostile ones, such as: deepwater, subsea, extended reach, high-yield, heavy oil and unconventional gas well environments.
With sustainability at the forefront, the company continues to push the boundaries of conventional technology, and it is through this bravery and pioneering attitude it seeks to ensure a strong future for stakeholders: the industry, clients and employees.
CFI.co is a print journal and online resource reporting on business, economics, and finance. The journal recognises that the traditional distinction between emerging and developed markets is now far less meaningful as world economies converge. Headquartered in London, the world's most multicultural city, CFI.co covers and analyses the drivers behind that change. Combining the views of leading multilateral and national organisations with thought leadership from some of the world's top minds – CFI.co's dedicated editorial team ensures that readers better understand the forces influencing and reshaping the global economy.
About the CFI.co Awards Programme
Each year, CFI.co seeks out individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Reporting from frontlines of economies on the move, CFI.co realises that best practice is to be found throughout the world. The Awards Programme aims to identify and reward excellence wherever it is found. The programme aims to inspire others to further improve their own performance.
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