403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Scotland's Raptor Oil invests USD2.26m on developing wireless technology
(MENAFN) Aberdeen-based oil and gas start-up Raptor Oil secured a sum of USD2.26 million for funding a new development from a public sector partnership, Daily Record reported.
The company, which is developing wireless data communication tool for use in wells, secured USD1.65 million from the private sector, including from oil and gas firm Statoil.
According to the chief executive of Raptor Oil, the funding will go towards refining its 'potentially ground breaking technology' in a 17-month development project.
"Statoil believes wireless telemetry has the potential to revolutionize in-well communication and we are delighted to be cooperating with Scottish Enterprise in funding this technology," Head of Statoil Technology Invest said in a statement.
The company, which is developing wireless data communication tool for use in wells, secured USD1.65 million from the private sector, including from oil and gas firm Statoil.
According to the chief executive of Raptor Oil, the funding will go towards refining its 'potentially ground breaking technology' in a 17-month development project.
"Statoil believes wireless telemetry has the potential to revolutionize in-well communication and we are delighted to be cooperating with Scottish Enterprise in funding this technology," Head of Statoil Technology Invest said in a statement.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment