Founded in 1983, Framo Engineering specialises in multiphase pumps and subsea pump-systems, multiphase metering systems, and swivels and marine systems for the oil and gas industry. The company employs approximately 500 people, mostly in Norway.
Schlumberger has held a 52.75% stake in Framo Engineering since 2007.
“This transaction is an important step in the development of subsea technologies and solutions to improve hydrocarbon recovery and lower costs in the subsea environment,” said Paal Kibsgaard, chief operating officer of Schlumberger Ltd. “The combination of Schlumberger subsea flow assurance and surveillance capabilities with Framo Engineering’s extensive subsea multiphase boosting and metering capabilities will help our customers better design their subsea infrastructure, optimize production and increase recovery over the life of the field.”