qWave granted 5,3 mill NOK in new research funding from the Norwegian Research Council

qWave has developed and successfully tested new methods to perform a stress test of rock formations in wellbores. It will enable operators to better understand the stress in rock formations related to well operations, such as carbon storage, oil & gas wells, with potential to reduce costs of drilling and increase efficiency of well operations.

We are very pleased that the Norwegian Research Council (Forskningsrådet) has decide to grant qWave 5,3 mill to demonstrate new technology.

“The support from the Norwegian Research Council will enable us to further develop our technology in a way that operators of carbon storage, oil, and gas wells will increase their understanding of the stress regimes in rock formation and enable more efficient drilling operations” says Jan Ove Nesvik, CEO at qWave

“We have several specific improvements to our technology that we would like to implement, based on learnings from tests earlier this year, and this support from the Norwegian Research Council will make it possible.” says Christopher Christophersen, Project Manager at qWave