IN BRIEF: Hunting wins first oil recovery contract in South America
Hunting PLC - London-based supplier of equipment to the oil and gas industry - Says its recently acquired business that optimises oil reservoir performance and recovery rates has won its first contract in South America. Hunting Energy Services Production Technology Inc, which was purchased by Hunting back in March, wins the contract with an unnamed Brazilian based oil and gas exploration and production company. The contract is for sampling 20 wells across 11 oil fields, all onshore in the north of Brazil. Hunting doesn’t provide the monetary value of the contract but calls it a ‘breakthrough’ for its organic oil recovery technology, expanding this to a new territory for the first time under Hunting ownership. The OOR technology aims to extend the life and increase the economic returns from a producing oil field. Sampling operations under the contract are already underway, Hunting says, with field implementation in 2026.
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12-month change: up 21%
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