Perfobore (also spelt ‘Perfobur’), a Moscow based solution provider for wells completion and stimulation, has closed a $9.3 million Series B round. The funding came from Runtech Ventures — the venture arm of Russian asset management firm RosRegion Razvitie — and from several individual investors including former Schlumberger VP Vladimir Kuksov.
Founded in 2013, Perfobore performed its first field operations in 2019 using “a next-gen radial drilling technology that provides a new life to old and marginal oil wells.”
This technology enables oil companies to access oil rich side pockets “by drilling up to 50-meter long horizontal perforation channels.” It is “the only radial drilling technology available in sandstones,” which account for more than 50%+ of wells.
This approach is “rapidly being accepted and implemented in major world markets,” says the company.
Source: Rusbase, Crunchbase
