Equinor Ventures visits qLab

This summer, qWave had the pleasure of giving our joint industry project partner Equinor Venture a tour at our qLab in Stavanger. The development of the 11 meter long downhole tool is entering into its last prototyping phase, where the next step now is to prepare it for the very first testing period outside of the lab.

“Equinor Ventures is excited to support qWave in the development of a novel stress-testing solution that has the potential to provide critical information for safe storage of CO2 in the subsurface, in addition to increasing the efficiency and reducing cost of drilling oil and gas wells”, says Jeroen van der Hoek, senior investment manager at Equinor Ventures.

«Equinor Ventures has supported the development of the qWave technology for many years, together with JIP partners Neptune and OMV, and we are proud to show our partners that the formation stress testing tool is coming together. It has been a long journey to develop a wellbore technology based on acoustic shockwaves, and the support from our partners has been fundamental to make it happen”, says Jan Ove Nesvik, CEO at qWave.

Jeroen van der Hoek, senior investment manager at Equinor Ventures (middle) together with Jan Ove Nesvik, CEO of qWave, and Hans Petter Eng, CTO of qWave.