The launch of a new facility in Denmark by Welltec at the end of August served to underline the role that technology is playing in enabling the efficient extraction of hydrocarbons.

Andrews Kurth (Middle East) DMCC managing partner Hugh Fraser and attorney Stine Thorup were in the Danish offshore capital Esbjerg for the event.

Founded in Denmark in 1994, Welltec currently has subsidiaries in more than 29 countries and 1,000 employees. In 2013, revenue was $321 million. Its technology—including the Well Tractor—has consolidated it as a world leader within lightweight and tractor based well intervention solutions.

The 77,500 square foot transformation center in Esbjerg will produce Welltec’s expanding fleet of unique completion products, including the Welltec Annular Barrier (WAB). The WAB is a fundamental part of its Flex-Well concept which opens up new ways of integrating well design and interventions. With the Flex-Well concept it is possible for operators to design their wells to achieve optimal maintenance and production for the life of the well.

“The international reach and relevance of Welltec’s products was reflected in the range of attendees from international oil companies in Esbjerg for the launch of the transformation center. The event and Welltec’s success story over 20 years serve to underline the role that North Sea origin technology companies have in recovery around the world,” saidStine Thorup.

“Such technology will also play a critical role in the recovery of Denmark’s own oil and gas reserves, which are currently subject to the seventh Danish licensing round. With the application period due to end in mid-October, it is interesting to note that subsequent rounds are set to follow a standardized timetable.

The Danish sector of the North Sea is a mature area with a well-developed infrastructure, but still holds exploration potential. To allow the existing infrastructure to be used in connection with the development of future discoveries and to give companies more predictability about when they can apply for unlicensed areas, the Danish Energy Agency has stated that licensing rounds following the seventh round will be held at roughly one-year intervals.”

The application phase of the seventh licensing round closes on 20 October 2014.