Equinor Technology Ventures (ETV) has entered a LOOP agreement with qWave AS.
qWave is developing an innovative tool to increase subsurface understanding, providing operators critical information for more cost-efficient field development.
The Stavanger based start-up is developing a technology for creating perforations in the wellbore to aid in conventional perforation, stimulation and formation testing operations. qWave creates the perforations through focused acoustic shockwaves, a method that has been applied in medicine for the removal of kidney stones for almost 40 years. The technology development is funded by the ETV LOOP program and co-financed by equity investments from Proventure and Validé Invest.