Novomet

Company Headquarters: Perm, Russia

Founded: 1991

Workforce: ~4,000

Company Working: Novomet is one of the leading companies that provides innovative oil lifting services in the oil &gas industry. Using drilling technologies, the company offered oil lifting services, including sizing of equipment to suit well condition for oil production services. It offers services such as ESP system, water injection system, upgradation and maintenance for oil production equipment. Its key investments include working capital injection, and expansion of international service operations. Novomet has its business in two manufacturing facilities, which include modernized manufacturing techniques and the identification performance standard. The identification performance technique includes the assessment and management of environmental pollution, community health, safety and security. These facilities have added value to the business, giving an advantage to the company’s growth.

Novomet offers proprietary technologies for applications including high gas-to-oil ratios, high temperatures, abrasive and corrosive fluids, heavy oil and highly deviated wells. It has operations in countries such as the Russia, CIS countries, Argentina, Romania, Egypt, Iraq, Ecuador, Kuwait, Indonesia, and the US. It has established its service division with a network so that company can tackle customers queries.

The R&D centre has conducted various tests both, internally and externally These tests include abrasive and corrosive tests, high viscous fluids, tests on gassy fluids, and low flow rate/ high flow rate stages for the benefit of the oil well production.

Recently Novomet has shipped 8000 units of permanent magnet motor for the oil industry.

Novomet strategizes to expand its business in the development of new foundry and cable production plant in Perm (Russia). The company is looking for ways to reduce operational costsby decreasing installation time on rigs and using horizontal pumping systems in harsh well environment. It has been improving its products in terms of energy savings, resistance to corrosion. It signed JDA (joint development agreement) with Advenira Enterprises Inc, a nano-composite technology company for manufacturing components and systems with high performance at low costs.