21 March 2018: qWave and entrepreneur Hans Petter Eng enters into a new phase of testing and product development of its downhole equipment when the company has now signed a contract with Statoil and capital injection from ProVenture Management, Validé Invest and received support from Presåkorn Fund to Innovation Norway via Validé AS.
“Clearly, this means a lot to me in order to move on. I have now worked 100 percent for three years with the idea, and still work in the laboratory with theoretical testing. The tests have so far shown that the technique and the improvements my method and equipment will provide can be successful. The next challenge is to transform this into real dimensions downhole in an oil well where pressure and temperature affect the equipment”, says Eng.