About Independent Oil Tools
IOT is a wholly owned subsidiary of Petrolia Services AS, which again is a wholly owned subsidiary of Petrolia Drilling ASA, listed on the Oslo Stock Exchange under Ticker PDR.
IOT's main activity is rental of drilling equipment and test strings, including accessories, to oil companies, oil service companies and drilling contractors, mainly on the Norwegian Continental Shelf.
Independent Oil Tools AS (IOT) was established in 1992, and is a well recognized service company to the oil and gas industry.
We serve oil companies, drilling contractors and other service companies,
primarily working on the Norwegian Continental Shelf, from our base at Forus, Stavanger.
Our current stock of drill pipe, HWDP and drill collars is approx. 8.500 jts. Drill pipe ranges from 2 7/8” – 5 ½”, most of which is grade S-135. Majority with high torque connections.
Our current stock of tubing is approx. 7.200 jts., ranging from 2 3/8” – 5” in various grades and weights.
We also do make/break services for various customers, with hydraulic operated torque machines:
One Full Rotating machine, 2 7/8” – 22”OD capacity at max. 40.000 ft.lb.
One Stroke Tong machine, 2 3/8” – 14”OD capacity at max. 160.000 ft.lb make and max. 200.000 ft.lb break.
Inspection of drill pipe/HWDP and drill collars is performed by third party
inspection company at our yard.
Inspection, cleaning and preservation of tubing is performed by IOT.
Tubing is stored indoors for protection against the shifting weather conditions.
IOT is approved as a Nortest test centre.