Qserv

Qserv Ltd. specialised in oil-well services operations, including slickline, coiled tubing and pumping services. In July 2008, the company was acquired by Aker Solutions and it was acquired by EQT Partners in 2013.

The company was named after its focus of "Quality Service".

Qserv Ltd.
FateAcquired by Aker Solutions, then EQT Partners
FoundedNovember 2001
FounderTommy Dreelan
DefunctJuly 4, 2008
HeadquartersPortlethen, Aberdeen

History

The company was founded in November 2001 by Tommy Dreelan.[1]

In 2004, the company was awarded a contract by ExxonMobil.[2]

In March 2005, it was awarded a 5-year well service contract by BP.[3]

In 2005, for the 3rd year in a row, the company won the International Safety Award from the British Safety Council.[4]

In July 2006, it acquired the coiled-tubing unit of Weatherford International.[5]

In December 2006, it acquired the wireline and well-service division of KCA DEUTAG.[6]

In July 2008, the company was acquired by Aker Solutions for $198 million and was renamed Aker Qserv.[7][8][1]

In 2013, Aker Solutions sold its entire well-intervention division, including Qserv, to EQT Partners for £400 million.[9]

References

  1. ^ a b "Aker Solutions boosts its well service business through acquisition of Qserv" (Press release). Globe Newswire. 4 July 2008.
  2. ^ "QSERV Secures Contract With ExxonMobil". RigZone. 20 July 2004.
  3. ^ "BP Awards Well Services Contract To Qserv". RigZone. 14 March 2005.
  4. ^ "Qserv Scoops Top Safety Award for Third Year Running". RigZone. 2 June 2006.
  5. ^ "QSERV Acquires Weatherford Coil Tubing Business". RigZone. 3 July 2006.
  6. ^ "Qserv Acquires KCA Deutag's Wireline Operations". RigZone. 18 December 2006.
  7. ^ Stoltz, Aasa Christine (4 July 2008). "Aker Solutions acquires Qserv for $198 mln". Reuters.
  8. ^ "Aker Grabs Qserv Shares, Boosts Well Service Business". RigZone. 7 July 2008.
  9. ^ Findlay, Keith (23 November 2013). "£400million deal to buy Aker well division". The Press and Journal.
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