IKM Cleandrill merges with Enhanced Drilling

Enhanced Well Technologies AS, a company owned and controlled by EV Private Equity together with Shell Ventures B.V. and the IKM Group, are pleased to announce the acquisition of IKM Cleandrill AS.

IKM Cleandrill is a specialist provider of riserless mud recovery services. This acquisition is part of a strategic plan to develop an industry leading riserless mud recovery and managed pressure drilling services provider with the potential for rapid global growth, and follows the recent acquisition of Enhanced Drilling. Both IKM Cleandrill and Enhanced Drilling are headquartered in Bergen, Norway.

About IKM Cleandrill 
IKM Cleandrill AS is a service provider to the global offshore drilling industry. The company specialises in the field of subsea drilling fluids management, and has developed a new generation of riserless mud recovery technologies.

About EV Private Equity
EV Private Equity is an independent growth equity firm dedicated to creating value by investing in new technologies which lower costs, increase productivity and reduce risk and carbon footprint for the energy industry. With offices in Stavanger, Aberdeen and Houston, EV is immersed in the global energy sector, and uses unique insights into this dynamic marketplace to make informed decisions.

About Shell Ventures
Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). With major offices in Europe, the USA, India and China, Shell Ventures invests in innovative technology companies, business models and growth plays to further the development of energy solutions and new technologies that have the potential to create substantial deployment value in Shell. Continuing Shell’s tradition in venture capital since 1998, Shell Ventures' investment focus includes oil & gas technologies, renewable energy technologies and mobility solutions. Shell Ventures co-invests with other corporate investors, venture capital funds and angels and will invest in both early stage and late stage (growth capital) companies. For more information, visit www.shell.com/shell-ventures 

For more information: Bernt Eikemo,  bernt.eikemo@ikm.com, +47 977 27 760 

IKM Cleandrill

IKM Cleandrill merges with Enhanced Drilling