Saudi funds flow into InflowControl

Aug 28, 2013 • Quentin Carruthers

Saudi Aramco Energy Ventures invests in Norwegian technology company InflowControl.

Saudi Aramco Energy Ventures (SAEV), the corporate venturing subsidiary of Saudi Arabian Oil Company (Saudi Aramco), has invested an undisclosed amount of equity in Norway-based technology company InflowControl.

This is the first round of institutional funding for the company.

InflowControl was established in May 2011 and is commercializing its new product, the autonomous inflow control valve (AICV), designed to increase recovery and production from oil reservoirs by shutting off unwanted gas and water ingression. InflowControl is currently in the process…

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