Enteq Upstream PLC (LON:NTQ) has agreed to team up with Black Gold Research (BGR) to develop and sell a high-speed telemetry system, to improve drill efficiency and geosteering.
The company, in a statement, noted that BGR has a worldwide reputation for developing innovative solutions in the field of electro-magnetics, sensors, measurements and transmission systems.
READ: Enteq Upsteam increases revenues
Enteq said the co-operation will ‘bring together expertise’ to commercialise a current BGR project.
"The development of this new technology is perfectly aligned with Enteq's strategy of delivering quality geosteering technologies,” said Martin Perry, Enteq chief executive.
“This technology has the potential to address one of the core needs of independent service companies operating globally.
“We look forward to working on this partnership with the team at Black Gold Research."