Clamp-on flowmeter (Photo: Business Wire)

HOUSTON, December 12, 2024--(BUSINESS WIRE)--Expro (NYSE: XPRO), a leading provider of energy services, has signed a technology agreement (ETEC) with Petrobras for the development of a new non-intrusive flowmeter.

The technology will provide flow rates and identify flow patterns, generating online and real-time data availability for control and monitoring of slug instabilities to increase efficiency and optimize production of wells.

The key requirement in this technology development is the non-intrusive aspect of the clamp-on design, as well as the absence of any radioactive source. The first prototype is expected to be installed by Q3 2027.

Talking on the agreement, Gregorio Rodrigues, Expro Vice President of Well Flow Management, commented: "We are delighted to partner with Petrobras to continue providing metering solutions, across Brazil. Expro has been at the forefront of pioneering Mobile Fiscal Metering packages, successfully performing flow metering in over 1,000 wells for a number of clients, including Petrobras. We are dedicated to consistently innovating with purpose, and this agreement is a testament to our commitment to being a technology-driven company.

"The new flowmeter can target multiple scenarios where currently there are challenges understanding the flow pattern and enable the client to adjust the parameters in an effort to optimize the production of the wells on an individual basis. Further developments will allow the solution to be utilized in multiple applications."

Roberta Mendes, Petrobras General Manager for R&D&I in Exploration and Production, commented, "We are hopeful about the development of the technology, which will upgrade the optimization of production from producing wells. The technology has the potential to increase production, especially in slug flow scenarios, and it has the premise of easy implementation in the company's facilities, both onshore and offshore."

Expro

Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating to 1938, Expro has more than 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.

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For more information, please visit expro.com and connect with Expro on X (formerly Twitter) @ExproGroup and LinkedIn @Expro.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made from time to time by representatives of Expro Group Holdings N.V. ("the Company"), may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success of the new flowmeter technology and the Company’s future business strategy and prospects for growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.

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