Petro Welt Technologies AG

Detailed Description

Petro Welt Technologies AG engages in supply of technology and integrated project management for the oil and gas production industry in Russia and Kazakhstan. The company operates through Well Services and Stimulation; Drilling, Sidetracking, Integrated Project Management (IPM); and Proppant Manufacturing segments. Its well services include hydraulic fracturing, multi-stage fracturing, cementing, and coiled tubing. The company provides services that enhance the productivity of existing wells or for reactivating idle and abandoned wells; the management of services rendered by subcontractors, including measurement while drilling, logging while drilling, and liner cementing; and conventional drilling, sidetrack drilling, and integrated project management. Its services also include drilling fluids, mud drilling, drill bits, casing and liner programs, downhole motors and turbines, etc. In addition, the company produces micro-proppant, ceramic proppant, and resin-coated proppant. As of December 31, 2020, the company had 16 drilling rigs, 30 sidetracking rigs, and 18 fracturing fleets. The company was formerly known as C.A.T. oil AG and changed its name to Petro Welt Technologies AG in August 2016. Petro Welt Technologies AG was founded in 1991 and is headquartered in Vienna, Austria.