Neodrill eyes up South East Asian market with new Business Development hire
5 November 2019
Estimated market for Neodrill in South East Asia is $3-5
Tor Odegard has nearly 30 years of experience, and has worked across Asia Pacific for 18 years, including Kuala Lumpur, Manila and Perth
The CAN technology typically saves 2-4 rig days per well, reduces risk and is a greener process than traditional methods
Neodrill has announced that it will enter the South East Asian market following the addition of Tor Odegard to its team. With nearly 30 years of experience in the oil and gas industry, Tor will be responsible for bringing Neodrill’s CAN (Conductor Anchor Node) technology to the region.
Tor is a business development expert and technical sales manager. Beginning his career in operations at Weatherford, Tor has worked with Baker Hughes and Archer. At Archer he was responsible for establishing Archer Oiltool’s Asian presence, and was part of the team that opened the Archer Oiltool’s Kuala Lumpur office.
The South East Asian market is experiencing steady growth as a result of a strengthening oil price, with India, Malaysia, Indonesia and Vietnam growing markets for subsea drilling. By providing a greener, smarter and safer well foundation, the technology addresses issues such as well verticality, load capacity and fatigue management. In particular, the technology will be of interest for operators experiencing cement issues, Top of Cement (TOC) and grouting problems, or difficulties with verticality. Neodrill’s CAN technology can be used on both exploration and production wells.
Commenting on the news, Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “We have had ambitions to enter the South East Asian market for quite some time. With the strengthening oil price, there is a surge in new projects becoming commercial and we believe the CAN technology can offer big cost efficiencies to operators of such projects in the region. Our technology is proven to be up to 44% better for the environment and, as such, we are proud to be able to share our greener message with a larger audience.
“We are pleased to welcome Tor onboard and look forward to working with partners across the South East Asian continent.”
Tor Odegard, Business Development Manager South East Asia, said: “Neodrill is a company with a conscious view of the time we are living in. CAN represents an opportunity for clients to make a small impact in their reduction of carbon emissions, in addition to reduced risk and increased efficiency. I am pleased to be a part of a team committed to making a difference in the sector, and am proud to be given the opportunity to bring Neodrill to South East Asia.”
Tor Odegard joins at a busy time for the company, which has just entered the Australian market with the appointment of Tim Dallas as business development manager. It has also expanded its technical team with the addition of Erlend Tuen Revheim and Rolf Brandsvoll as Project Managers. The company’s quickly expanding staff numbers result from a year of strong client demand, with the company positioned for strong growth into 2020.