Partners Aim to Advance Methane Harvesting Tech
Mitsui Engineering & Shipbuilding Co., Ltd. (MES), one of major heavy industry manufacturers in Japan, has partnered MHWirth, a global provider of drilling solutions and services, to harvest shallow methane hydrates from the seabed of the Japan Sea. Methane hydrates generally are categorized as either shallow-type or pore-filling sand-layer type. For pore-filling sand-layer methane hydrates, the studies for the recovery have been conducted since around FY2001 in Japan. For shallow methane hydrates (the hydrates), Japan’s Government Agency started the estimation
MHWirth to Sell MPD Business to AFGlobal
MHWirth, a subsidiary of the publicly listed Akastor ASA, has reached an agreement with AFGlobal Corporation to divest its Managed Pressure Drilling (MPD) business through the sale of its subsidiary, Managed Pressure Operations (MPO). The transaction will be settled through a cash consideration of $10 million on closing, combined with an earn-out element, which could potentially reach $65 million over the next six years. The agreement ensures the ability for MHWirth to provide Integrated MPD drilling packages to the market in the future. Finn Amund Norbye, CEO of MHWirth comments: “We