Exploration Consultants Ltd. (ECL) continues its expansion with the acquisition of the assets and ongoing business of the Subsurface Engineering Business Unit of AEA Technology plc (AEAT). The acquisition expands ECL’s services in reservoir engineering, simulation, production optimization, decision risk management, IOR screening and SCAL laboratory services.
ECL will retain the acquired business as a going concern (trading as ECL Technology Ltd.), and will expand its services and technology in the UK market, particularly from the Aberdeen office, and through ECL’s established overseas offices.
AEAT was created in 1996 by the privatization of parts of the UK Atomic Energy Authority. The divestment of the Subsurface Engineering Business Unit is the latest step in AEAT’s post-privatisation strategy to focus on its core business areas.
Earlier this year, AEAT sold its Calgary-based unit Hyprotec to Aspen Technology (see page 7). AEAT has now effectively turned its back on the oil and gas software and service market.
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