Weatherford International is a world-class oil and gas solutions provider and one of the largest service companies in the world. Weatherford has a significant ongoing technology research and development investment, with a substantial and diverse range of technologies being brought on-stream every year. At Seven Energy we are very proud of the long-standing Strategic Technology Collaboration (STC) Agreement we have with Weatherford.

The purpose of the STC is to ensure that Seven Energy benefits from all and any technologies which Weatherford are developing, or have acquired, that may be important or value-adding to the development of Seven Energy's oil and gas assets.

Having such a Technology Collaboration with one of the world's leading technology companies in the oil and gas industry gives Seven Energy a unique leading technology position amongst our peers, and even in comparison to some very large oil and gas companies. Seven and Weatherford have bi-annual STC meetings to ensure that Seven is benefitting from all technology advancements. Areas where this has already benefitted Seven include underbalanced drilling, fracture stimulation and well completions, and in the future we see benefits in artificial lift, production optimisation and many more.

A further key benefit of our STC with Weatherford is in the provision of technology training courses at the Weatherford Technology Training Centre in Aberdeen, Scotland, which, among other facilities and training courses, has one of the most advanced drilling simulators in the world. Seven Energy is delighted to be able to offer the use of these facilities to our project partners, some of whom have already benefitted greatly from their use.