The well logging service industry in the Nordics plays a critical role in the oil and gas sector by providing data-rich insights into underground formations. This includes companies specializing in various technologies like seismic surveys, drilling solutions, and reservoir monitoring services. As the industry grapples with transitioning energy demands, it is increasingly investing in sustainable technologies, signaling a shift toward environmentally mindful practices. Moreover, enhanced digitalization and data analytics are reshaping operations, suggesting that future development will focus heavily on innovation and efficiency, driving the sector to new heights while supporting the broader energy transition.


The investment canvas in the well logging service sector features a blend of venture capital and private equity firms, predominantly hailing from Norway and Sweden. Investors range from nimble startups to significant corporate players, founded as early as 1841 up to 2018. In 2024, they collectively conducted numerous deals, showcasing their optimism in this evolving market. Each firm, with up to 10,000 employees or more, embodies a commitment to enhancing operational proficiency and supporting businesses navigating energy challenges, while mentoring and funding innovative startups geared toward market leadership.


Top 18 Well Logging Service Investors in the Nordics


1. EV Private Equity


EV Private Equity is an investment firm based in Stavanger, Rogaland, Norway, specializing in energy technology and sustainable investments. Founded in 2002, the firm partners with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Their focus on responsible investment practices positions them as a leader in the transition to a sustainable energy future. Notably, EV Private Equity acquired Enhanced Drilling in August 2019, a company that provides advanced drilling services, which is closely related to well logging. Additionally, they have been involved in funding rounds for other energy service companies, indicating a broader interest in the energy sector, including potential investments in well logging services.


2. Investinor

  • Website: investinor.no
  • Type: Venture Capital
  • Headquarters: Trondheim, Trøndelag, Norway
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. The firm specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor manages state interests in seed and venture funds and collaborates with entrepreneurs and other investors. They have been involved in several transactions relevant to the oil and gas sector, including investments in Well Conveyor, Ace Oil Tools, and Zilift Limited, which focus on technologies and services that support well operations. Their portfolio reflects a commitment to fostering innovation in the energy sector, making them a notable player in the venture capital landscape for well logging services.


3. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, Equinor has a workforce of over 10,000 employees and is committed to sustainability, aiming to achieve net-zero emissions by 2050. The company serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Equinor has been actively investing in innovative technologies within the energy sector, including well logging services. Notable transactions include their investment in Quantico Energy Solutions, which specializes in data-driven solutions for shale drilling and horizontal logging. They also invested in Upwing Energy, which is developing downhole gas compressors, and Ambyint, which offers AI-driven oil and gas production optimization solutions. These investments highlight Equinor's strategic interest in enhancing well logging and related technologies, positioning them as a relevant player in this sector.


4. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects with an emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to drive growth in renewable energy and related industries. Notable transactions include the acquisition of Ross Offshore in 2008, which operates in the oil and gas sector, and AXON Energy Products, also acquired in 2008, which provides products and services relevant to energy production. Additionally, HitecVision's investment in WellPartner in 2014 highlights their interest in companies that may be involved in well logging and related services. Their acquisition of Deep Sea Mooring AS further demonstrates their engagement in the energy services sector, which is closely related to well logging activities.


5. Norvestor

  • Website: norvestor.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1989
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability and invests across various sectors, including IT services and property maintenance. Notably, they have made several key acquisitions in the oil and gas sector, including Read Cased Hole, a provider of oil and gas intelligence services, and Hydra Well Intervention, which specializes in well intervention services. Additionally, they acquired iSURVEY, a company involved in survey services for the oil and gas industry, and PG Group (dba PG Flow Solutions), which provides flow solutions relevant to the sector. These transactions highlight Norvestor's commitment to investing in companies that enhance operational efficiency and market presence in the well logging and related services.


6. Viking Venture

  • Website: vikingventure.com
  • Type: Venture Capital
  • Headquarters: Trondheim, Trøndelag, Norway
  • Founded year: 2001
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: viking-venture

Viking Venture is a venture capital firm based in Trondheim, Trøndelag, Norway, founded in 2001. The firm specializes in the software sector, focusing on fast-growing Nordic B2B software companies. They provide capital and strategic support to enhance growth and operational efficiency, including mentoring, recruitment assistance, and guidance on financing and successful exits. Viking Venture has been involved in several transactions relevant to the oil and gas industry, such as Enhanced Drilling, which raised funds in 2007, and Zilift Limited, a provider of artificial lift solutions for the oil and gas industry, which received a £4m investment in 2012. Additionally, they have invested in ExproSoft and MorphPackers, both of which are connected to oil services. These transactions highlight their engagement with companies that operate in sectors related to well logging services.


7. Epiroc Construction Tools


Epiroc Construction Tools, founded in 2018 and based in Kalmar, Sweden, specializes in mining and construction equipment, offering a range of products including drill rigs and rock excavation tools. The company is dedicated to enhancing productivity and safety through innovative technology and services, including maintenance and digital solutions. In recent years, Epiroc has made several strategic acquisitions to bolster its position in the market. Notably, they acquired Schramm Australia's intellectual property, which includes key assets that could enhance their drilling capabilities. Additionally, their acquisition of a Canadian exploration tool maker and the purchase of Geoscan, a digital core imaging business, highlight their commitment to expanding their technological offerings in the mining sector. These transactions suggest a growing interest in areas that intersect with well logging services, making Epiroc a noteworthy player in this space.


8. Ferd AS

  • Website: ferd.no
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1998
  • Headcount: 51-200
  • LinkedIn: ferd-as

Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through a variety of business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has made notable investments in the oil and gas sector, including Interwell, which raised funds in 2010, and Petroleum Geo-Services, which raised capital in a post-IPO equity round in 2015. These transactions highlight Ferd AS's engagement with companies that operate in the well logging service industry, showcasing their interest in enhancing growth and impact within this sector, despite their broader investment strategy.


9. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a strong emphasis on enhancing operational efficiency and sustainable growth for its partners. Altor has been actively involved in the oil services sector, notably acquiring AGR AS, a Norwegian technology-based oil services company, in 2004, and Enhanced Drilling in 2013. These acquisitions reflect Altor's strategy to invest in companies that can benefit from organic development and add-on acquisitions, particularly in the oil and gas industry, which encompasses well logging services.


10. ProVenture

  • Website: proventure.no
  • Type: Venture Capital
  • Headquarters: Trondheim, Trøndelag, Norway
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: proventure-management

ProVenture is a venture capital firm based in Trondheim, Trøndelag, Norway, founded in 2006. The firm specializes in seed and early-stage investments, primarily in digital technology startups, providing both capital and strategic support to entrepreneurs. ProVenture aims to create substantial economic, social, and environmental value through sustainable business models. Notably, they have made investments in companies such as Ace Oil Tools, which raised an undisclosed amount in a venture round in February 2015, and Scale Protection, which secured $2,896,377 in a venture round in February 2017. These transactions highlight ProVenture's engagement with companies that operate in the oil and gas sector, particularly those that may have applications in well logging services, thereby demonstrating their relevance to this industry.


11. Aker Solutions

  • Website: akersolutions.com
  • Type: Corporate
  • Headquarters: Fornebu, Akershus, Norway
  • Founded year: 1841
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: aker-solutions

Aker Solutions ASA is a prominent engineering firm based in Fornebu, Akershus, Norway, specializing in energy infrastructure. Founded in 1841, the company provides integrated solutions and services for low-carbon oil and gas production, as well as renewable energy projects. Aker Solutions operates globally, leveraging digital technology and strategic partnerships to support clients in the energy sector. Notably, Aker Solutions has made significant investments in the well logging service context, including the acquisition of Enovate Systems Ltd. in January 2013, which specializes in subsea well control equipment. This acquisition highlights Aker's commitment to enhancing its capabilities in well logging and control technologies. Additionally, their acquisition of Subsea House and SSH Engineering in 2012 further demonstrates their strategic focus on expanding their service offerings in the subsea and energy sectors.


12. Pgs

  • Website: pgs.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1991
  • Headcount: 1001-5000
  • LinkedIn: pgs

PGS (pgs.com) is a corporate investor based in Oslo, Norway, founded in 1991. The company specializes in geophysical services, particularly in providing advanced seismic data and imaging solutions to oil and gas companies. Their services are crucial for exploration and production in offshore environments, assisting clients in locating and analyzing potential reserves. In recent transactions, PGS has been involved in significant activities such as the acquisition of the GeoStreamer X survey over the EnQuest-operated Kraken oilfield in the North Sea, which aims to enhance exploration data in the region. Additionally, PGS granted Ocean Floor Geophysics, Inc. exclusive rights to use their towed streamer CSEM system, further demonstrating their active role in the geophysical services sector. These transactions highlight PGS's commitment to advancing technology and data solutions that are relevant to well logging and exploration.


13. Herkules Capital


Herkules Capital is a private equity firm based in Oslo, Norway, founded in 2002. The firm specializes in managing investments in established companies with strong growth potential across various sectors, including energy, consumer goods, healthcare, services, and industrial technology. Notably, Herkules Capital has been involved in significant transactions within the energy sector, such as the acquisition of Petroleum Technology Company in July 2013, which indicates their interest in companies that may provide well logging services. Additionally, they participated in funding rounds for Beerenberg Corp., another company in the energy sector. These transactions highlight Herkules Capital's commitment to investing in companies that operate within the energy landscape, making them a potential player in the well logging service industry.


14. Archer - the well company


Archer - the well company is a corporate investor based in Sandnes, Rogaland, Norway, founded in 2011. The company specializes in energy services, particularly in drilling and well services for the global energy industry. Archer provides a comprehensive range of solutions, including platform operations, well construction, and renewable energy services, with a strong focus on optimizing well performance and ensuring operational safety and efficiency. In 2024, Archer made significant strides in the well services sector by acquiring Wellbore Fishing & Rental Tools, LLC for $51.5 million. This acquisition is expected to enhance Archer's presence in the Gulf of Mexico and improve its EBITDA by 10-15% in 2025, showcasing their commitment to expanding their capabilities in well services, which includes aspects relevant to well logging.


15. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, and is known for partnering with management teams to drive growth and operational improvements in its portfolio companies. Nordic Capital has a strong focus on creating long-term value and sustainability in its investments. Notably, they have been involved in transactions relevant to the well logging service industry, such as the acquisition of Resman, a SINTEF spin-off that specializes in tracer and data analysis technology for reservoir monitoring. This acquisition, announced on March 26, 2015, highlights Nordic Capital's engagement in the well logging service sector, further supporting their commitment to sustainable investment opportunities for their institutional clients.


16. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs. Their model emphasizes active ownership and investment in startups, helping them scale and succeed in the market. Notably, Chalmers Ventures has invested in Minalyze, which raised over $2 million in venture funding across multiple rounds. Minalyze specializes in providing advanced analytics solutions that could be applicable to the well logging service industry, particularly in resource extraction contexts. Additionally, they have invested in ReVibe Energy, which focuses on energy solutions, indicating a broader interest in technologies that may intersect with energy and resource management.


17. Nordisk Bergteknik AB (publ)


Nordisk Bergteknik AB (publ) is a corporate investor based in Gothenburg, Västra Götaland, Sweden, specializing in construction with a focus on rock management and foundation services. Founded in 2016, the company operates primarily in the infrastructure sector, serving private companies involved in public projects across Sweden, Norway, and Finland. In August 2022, Nordisk Bergteknik enhanced its service offerings by acquiring TSB Borrentreprenad, a company with a strong background in drilling services. This strategic acquisition is expected to bolster their drilling capabilities and geographic presence, aligning with their commitment to sustainable practices and modern techniques in infrastructure development. The acquisition of TSB Borrentreprenad positions Nordisk Bergteknik as a player in the drilling sector, which is relevant to well logging services.


18. Televenture Management


Televenture Management is a venture capital firm based in Oslo, Norway, founded in 1993. The firm specializes in managing Norsk Innovasjonskapital funds and invests across various sectors, including Industrials, Software, and Oil & Gas. Televenture provides capital and expertise to startups and small businesses, helping them grow and succeed. Notably, they participated in a venture round for Applied Petroleum Technology in June 2011, which is relevant to the oil and gas industry, indicating their engagement with companies that may operate in the well logging service space.



Well Logging Service Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EV Private EquityStavanger, Rogaland, Norway11-5020020
InvestinorTrondheim, Trøndelag, Norway11-5020084
EquinorStavanger, Rogaland, Norway10001+19726
HitecVisionStavanger, Rogaland, Norway51-20019850
NorvestorOslo, Oslo, Norway11-5019893
Viking VentureTrondheim, Trøndelag, Norway11-5020011
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
Ferd ASOslo, Oslo, Norway51-20019980
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
ProVentureTrondheim, Trøndelag, Norway1-1020062
Aker SolutionsFornebu, Akershus, Norway10001+18411
PgsOslo, Oslo, Norway1001-500019910
Herkules CapitalOslo, Oslo, Norway11-5020020
Archer - the well companySandnes, Rogaland, Norway5001-1000020115
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Chalmers VenturesSweden11-50201526
Nordisk Bergteknik AB (publ)Gothenburg, Västra Götaland, Sweden501-100020160
Televenture ManagementOslo, Oslo, Norway1-1019930


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