Devico buys into Downhole Surveys

On November 1, Devico, a Norwegian specialist in directional core drilling and borehole surveying, became the the majority owner of Downhole Surveys, an Australian provider of downhole instruments
Devico buys into Downhole Surveys Devico buys into Downhole Surveys Devico buys into Downhole Surveys Devico buys into Downhole Surveys Devico buys into Downhole Surveys

Downhole Surveys' CEO Mike Ayris and Devico CEO Erlend Olso at the Downhole Surveys Perth office in October this year

Downhole Surveys has been operating as an exclusive distributor of Devico's downhole surveying products in Australia. Since 1989, the company has also introduced over 15 different surveying products and innovations to the Australian mining and drilling industries.

Erlend Olso, CEO of Devico, said: "Downhole Surveys' great ability to commercialise new and innovative products and ideas will allow for faster time-to-market for new Devico products currently in the pipeline."

While Downhole Surveys will continue to operate as before, the partnership will provide opportunities for knowledge exchange.

"Through a collaborative research and development approach, the group will see some exciting new products in directional surveying and directional drilling released over the next few years, with both companies very motivated by the prospect of expanding their offerings within the Australian and global markets," the companies said in a recent press release.