Welltec International

Welltec International specializes in advanced completion and well intervention solutions, optimizing energy extraction while enhancing well integrity through innovative technologies designed for oil and gas production. Welltec A/S, founded in 1994 in Denmark, focuses on well intervention and completion solutions for energy extraction. The company was co-founded by Jong Lee, Jørgen Hallundbæk, and Lee Koo. Jørgen Hallundbæk currently serves as CEO.

The company has undergone strategic developments but operates independently without parent or subsidiary affiliations. Welltec has raised EUR 103. 3 mn in its latest funding round from EXOR, which occurred on February 10, 2016, marking a total of EUR 103. 3 mn raised across 4 deals.

Welltec A/S specializes in advanced completion and well intervention solutions aimed at optimizing energy extraction and enhancing well integrity. Their core products include technologies designed to maximize reservoir contact, improve recovery rates, and minimize environmental impact during oil and gas production. Noteworthy systems, such as their unique surface-controlled downhole interventions, have been developed over 25 years, targeting complex tasks relevant to energy producers. Welltec serves major oil and gas companies and renewable energy operators across North America, Europe, Asia, and the Middle East, addressing energy efficiency, operational safety, and cost reduction needs.

In 2023, Welltec A/S reported a revenue of EUR 215. 51 mn and an EBITDA of EUR 164. 3 mn. The revenue is primarily derived from direct sales contracts for their completion and intervention technologies, which are offered to energy companies across oil, gas, and renewable sectors.

Welltec intends to launch new products designed to further enhance its well intervention capabilities within the next year. The company is exploring expansion into Asian markets, targeting operations in Southeast Asia by the end of 2024. The recent funding of EUR 103. 3 mn from EXOR will be utilized to support product development and market entry strategies, strengthening its position in emerging regions.